Final answer:
A major concern for sellers regarding estimates is the price of goods or services. Imperfect information hinders price agreement, but sellers can reassure buyers by providing transparent information, certifications, and warranties. Job seekers reassure employers with a strong portfolio and references.
Step-by-step explanation:
A major concern of most sellers that sales associates may be able to provide an estimate for is the price of the goods or services being sold. It can be challenging for a buyer and seller to agree on a price when imperfect information exists. This imperfection stems from each party not having full knowledge about the value of the goods or services, leading to uncertainties and potential disagreement on what a fair price might be.
To reassure a possible buyer in the face of imperfect information, sellers might provide transparent information about the product, certifications or evidence of quality, warranties, and trial periods to reduce the perceived risk for the buyer. Similarly, for a seller of labor looking for a job, they might reassure possible employers by presenting a strong portfolio of work, references, or certifications indicating their capabilities and reliability.