Suppose You Bought Three Tickets to a Concert in Advance

question 37

Multiple Choice

Suppose you bought three tickets to a concert in advance at the University ticket window. At the last minute one friend cancelled, so you could use only two of the tickets. You sold the third ticket just outside the entrance to the concert for more than the price you had originally paid. Which transaction occurred in a market?

• A)The advance purchase at the University was the only market transaction.
• B)The sale that occurred at the concert entrance was the only market transaction.
• C)Both the purchase at the University ticket window and the sale at the concert entrance were market transactions.
• D)Neither the purchase at the University ticket window nor the sale at the concert entrance was a market transaction.

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Definitions:

High Standards

Expectations or criteria that are considerably above average in terms of level, quality, or performance.

Fear of Failure

An intense worry or apprehension about not meeting a set standard or achieving a desired outcome, often leading to avoidance of challenging tasks.

Affiliation Motive

An individual's need to form connections with others, driven by a desire for social interaction and companionship.

Evolutionary Benefit

An advantage conferred by certain traits or behaviors that increases the likelihood of survival and reproduction across generations.