Suppose You Camped Out in Front of an Electronics Store

question 24

Multiple Choice

Suppose you camped out in front of an electronics store to be one of the 200 lucky people able to purchase the latest gaming system. You bought the system for $350. Two weeks later you see that the same system can be sold on e-Bay for $600, so you sell your system. Your market role is as:

• A)a consumer in both of these markets.
• B)a consumer at the electronics store and as a seller on e-Bay.
• C)a consumer at the electronics store; the e-Bay transaction did not occur in a market.
• D)a seller in both of these markets.

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Definitions:

Unintended Consequences

Outcomes that are not anticipated or intended, often as a result of an action or a series of actions that diverge from the original objectives.

Base Pairs

Units of double-stranded DNA consisting of two nucleotides located on opposite complementary DNA or RNA strands that are connected via hydrogen bonds.

Amino Acids

Organic compounds that combine to form proteins, serving as the building blocks of life.

Chemicals

Substances with a distinct molecular composition that are used or produced in processes involving changes to molecules or atoms.