Topic 5b Selling

Why might we sell an item?

• We no longer need it and it is a good way to make money.
• We can borrow money and it is a good way to gain money.

What is a definition of selling?

• When we exchange items for money.
• When we swap items with each other.

Which of the following is NOT a reason for selling an item?

• It is an essential need.
• We have outgrown it.
• We might not want the item any more.
• We might own an item that we never wanted.

What is the best way to sell items across the world?

• On-line auctions
• Car boot sales
• Local church stall
• Family and friends

Which of the following is NOT an on line auction site.

• Plenty More Fish or Tinder
• EBay
• Gumtree
• Shpock it

An auction is

• where people can offer to pay an amount of money for an item.
• where people barter goods.
• where a person bids the most money and buys the item
• Antiques Roadshow

Bidding is when . . .

• the person who bids the most money buys the item.
• the person who bids the least money buys the item.

Cash for gold buyers are

• not interested in how pretty the jewellery is
• able to give more money to the seller if the jewellery is pretty

A disadvantage of a cash converter is that

• you get the cash instantly but the price paid will be quite low.
• you get the cash instantly but the price paid will be quite high.

Which of the following are NOT a cost of selling personal items?

• insurance premium tax
• advertising fees
• entrance fees
• online auction fees