Question

Explain with an example how people bargain in the market. Can you think of a situation where the bargain would be unfair?

Answer 1

1. People bargain in the market by saying the lower price of a product than what the seller charges. For example, Manu goes to ‘Subji Mandi’ in the evening. He asks the rate of potatoes from a vendor. The vendor says ten rupees per kg! Manu asks the vendor for six rupees per kg. But, the vendor agrees to eight rupees. Manu buys five kgs. of potatoes at the rate of eight rupees per kg.
2. Yes. At the fixed-rate shop, bargaining will be unfair. But at the shops other than the fixed rate, we can bargain to bring the price down.