Author Question: ____ is the act of buying a commodity in one market at a lower price and selling it in another ... (Read 72 times)

karen · **on:** Jun 30, 2018

____ is the act of buying a commodity in one market at a lower price and selling it in another market at a higher price.
a. Buying short.
b. Discounting.
c. Tariffing.
d. Arbitrage.

Question 2

Assume the price of Nikes decreases. As a result, consumers increase the quantity of Nikes purchased each year and purchase fewer Reeboks. This is an example of the:
a. substitution effect.
b. income effect.
c. utility effect.
d. consumption effect.