ECO-06

You stop by a crafts fair and you notice consumers haggling with vendors over prices. What does this tell you about the competitiveness of this market? Suppose you plan to go to a farmers’ market next. Do you expect to find more or less haggling at this market than you did at the crafts fair? Why?

In responding to your classmates’ posts next week, compare and contrast these markets to a non-standardized market where consumers do not perceive sellers as all being the same. Provide an example of a non-standardized market.

Note: This discussion spans two weeks and is graded at the end of Module Six. Your first post is due in this module, and your follow-up posts (two) are due in the next module.