Second-Hand Markets and Resale: Checkpoint 1

Quick checkpoint - five questions on second-hand markets and resale.

Question 1 of 5 What is the 'lemons problem'?

A citrus crop failure A tax rule A bank fee Buyers can't tell good used goods from bad, shrinking the market

George Akerlof described it in 1970.

Question 2 of 5 What helps reduce the lemons problem?

Hiding information Warranties and certification Higher taxes More advertising

Inspections build trust.

Question 3 of 5 What is depreciation?

Growth in price A discount code Loss of value with age A tax refund

Residual value is what remains.

Question 4 of 5 Who is a kabadiwala?

A banker A scrap dealer A teacher A farmer

Part of India's informal recycling.

Question 5 of 5 What does right to repair support?

Banning resale Ending warranties Making it easier to fix devices Raising prices

India has launched a portal.

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