Asked by
Chris Stansberry
on Dec 12, 2024
Verified
Mateo values his camper at $4,000, and Nicole values it at $9,000. If Nicole buys it from Mateo for $7,000, which of the following is true?
A) Mateo gains $3,000 of value, and Nicole gains $2,000 of value.
B) Mateo gains $7,000 of value, and Nicole loses $7,000 of value.
C) Mateo gains $7,000 of value, and Nicole gains $6,000 of value.
D) Mateo and Nicole both gain $7,000 of value.
Values
Values are the principles or standards of behavior that are considered important in life or in a particular decision-making process.
Transaction
An economic event that involves the transfer of goods, services, or funds between two or more parties.
- Acquire knowledge on the concept of voluntary exchange and the mutual gains that result from these activities.
Verified Answer
CL
Learning Objectives
- Acquire knowledge on the concept of voluntary exchange and the mutual gains that result from these activities.