What is bartering?
AnswerTrading goods or services directly without money
Bartering is direct exchange, such as trading vegetables for firewood.
Money · Facts & stats
Bargain facts & stats
7 fact-checked facts about bargains and smart shopping, each with the reason behind it. 5 more are in today's round and join this page after it closes.
The basics
What is haggling?
AnswerNegotiating back and forth over a price
Haggling is bargaining with a seller to agree on a price.
Going deeper
What does a shelf 'unit price' tell you?
AnswerThe cost per unit of measure, such as per 100 g
Unit prices let you compare value across package sizes.
Black Friday is the day after which US holiday?
AnswerThanksgiving
Black Friday follows Thanksgiving, which falls on the fourth Thursday in November.
What is Istanbul's historic covered market, famous for bargaining, called?
AnswerThe Grand Bazaar
The Grand Bazaar dates to the 15th century; Khan el-Khalili is in Cairo and La Boqueria in Barcelona.
Expert level
If a price is cut by 20% and then by another 20%, what is the total discount?
Answer36%
After two 20% cuts you pay 0.8 × 0.8 = 0.64 of the price, a 36% total discount.
In pricing psychology, what is 'anchoring'?
AnswerRelying heavily on the first price seen when judging value
An initial price acts as an anchor, so later prices seem cheap or expensive by comparison.
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