Asked by
Ismail Lemghari
on Nov 17, 2024Verified
Economists generally believe that, although there may be advantages to society from ticket-scalping, the costs to society of this activity outweigh the benefits.
Ticket-Scalping
The act of buying tickets for an event and reselling them at a higher price.
Costs to Society
The total burden that societal behaviors, decisions, or policies place on the welfare of the community, including both direct costs and indirect consequences.
- Comprehend the effects of market regulations, such as ticket resale and price limits, on the well-being of both consumers and producers.
Verified Answer
CJ
Learning Objectives
- Comprehend the effects of market regulations, such as ticket resale and price limits, on the well-being of both consumers and producers.