Similarities between garage sales and economic exchanges

Reference no: EM13513300

Much economic activity takes place without ever being recorded in national statistics or even without the use of money. This is true in North America as well as other cultures. Spend a morning observing or participating in a garage sale in your neighborhood and describe how the sale was organized, the relationships between the organizers, between organizers and buyers, the kinds of things that were sold, who bought them, and so forth. Are there any particular customs about how garage sales should be conducted? Did any bargaining take place, and what were the rules of bargaining? What purposes or functions do garage sales seem to serve? Can you see any similarities between garage sales and any of the economic exchanges discussed in this chapter?

Reference no: EM13513300

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