The transaction in which the buyer of an item is selected after a number of buyers have made some willingness to pay for that item; is marked as

Related MCQs

• The contract to pay a premium for which the insurer will pay compensation in certain happenings e.g., fire theft or motor accident is termed as:
• Buyers and Sellers will have perfect knowledge of market conditions under -
• A speculator who enters into a purchase transaction with a view to sell in the near future when the price would have risen is called a -
• An arrangement between a seller and buyer under which a period of credit is allowed before payment is called:
• When there is one buyer and many sellers then that situation is called -
• seller or buyer protects his business or holdings from changing prices and takes action against it. It is known as -
• The prices that are set by government rather than by negotiation between a seller and a buyer are known as
• In an organized market, an intermediary between a buyer and a seller is called:
• The action taken by a buyer or seller to product his business or assets against a change in prices is called
• The difference between the price the consumer is prepared to pay for a commodity and the price which he actually pays is called