Question

Maria spots a beautiful dress in the window of a boutique. maria goes into the boutique to inquire about the dress and is told the cost is $150. she remembers seeing the same dress in a catalog for $115. maria is on a budget so she asks the salesperson if she could come down to $100 for the dress. maria and the salesperson settle on a price of $125. which price type does $150 represent?

1) market price
2) asking price
3) spot price
4) bid price

Answer 1

The original price of $150 for the dress that Maria saw in the boutique represents the asking price, which is the initial price set by the seller before negotiation.

Step-by-step explanation:

The asking price is the price that a seller states they are willing to accept for an item they are selling. In the situation described, the $150 represents the asking price. Maria spotted a beautiful dress in the window of a boutique with a price of $150, which is the price the boutique was asking for the dress before any negotiation. After negotiation, Maria and the salesperson agreed on a price of $125 for the dress, which is lower than the original asking price but higher than Maria's initial offer.