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Multiple Choice
Which of the following scenarios is an example of a person interacting outside of a market?
A
A student buys a textbook from an online retailer.
B
A neighbor helps another neighbor move furniture without any payment.
C
A consumer purchases groceries at a supermarket.
D
A farmer sells vegetables at a local farmers' market.
Verified step by step guidance
1
Understand the definition of a market interaction: it involves an exchange where goods or services are traded, usually with payment or a price mechanism involved.
Identify scenarios where there is a clear transaction involving money or a price, such as buying a textbook online, purchasing groceries, or selling vegetables at a farmers' market. These are all market interactions.
Recognize that an interaction outside of a market occurs when goods or services are exchanged without a monetary transaction or formal price mechanism.
Analyze the scenario where a neighbor helps another neighbor move furniture without any payment. Since there is no exchange of money or price, this is an example of a non-market interaction.
Conclude that the correct example of a person interacting outside of a market is the neighbor helping another neighbor move furniture without any payment.