Which of the Following Transactions Is Represented by the Diagram

question 22

Multiple Choice

Which of the following transactions is represented by the diagram below?

• A) An automobile salvage business holds weekly auctions at which it sells its entire inventory.
• B) A grocery store sells products to consumers.
• C) A hobbyist restores antique cars. When a car is finished, she sells it on eBay.
• D) A firm sells movies to consumers through an online downloading service.

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Definitions:

Equality

An existence of equality, notably in areas of status, rights, and opportunities.

Opportunity Cost

The cost of foregoing the next best alternative when making a decision or choice.

Ticket Price

The cost charged for admission to an event or access to a service.

Value Of Time

The economic worth assigned to time, reflecting what is foregone in engaging in a particular activity versus alternative uses.