Which of the following transactions would take place in the resource market? Raj donates canned food to his local food bank. Jim attends the college basketball game. Susan opens a new bakery in town. Anne decides to purchase a used car.

Question

Business

Marisol Goodman

16 September, 08:27

Which of the following transactions would take place in the resource market? Raj donates canned food to his local food bank. Jim attends the college basketball game. Susan opens a new bakery in town. Anne decides to purchase a used car.

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Answers (1)

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Bradyn Mercer · Answer 1

The transaction that would take place in the resource market would be 'Anne decides to purchase a used car'.

Option: (D)

Explanation:

When a business or an individual decides to buy some resources for itself/himself in order to render service or possibly produce goods using it, it can be referred to as a transaction in the resource market. In a resources market, only resources that can be used for further service or production of goods are bought and sold. Anne has decided to purchase a car to serve herself for her own convenience. Hence, it can be termed as a resource market transaction.