Wednesday
April 23, 2014

Homework Help: reading

Posted by kesha on Saturday, January 19, 2013 at 10:34pm.

Locate the topic of each paragraph. Remember to ask the question. Who or what the paragraph is about?

Tickets for athletic events and musical concerts sometimes get resold for much
greater amounts than the original price—a market transaction known as “scalping.” For example, an original buyer may resell a $75 ticket to a concert for $200, $250 or more. Reporters sometimes denounce scalpers for “ripping off” buyers by charging “exorbitant” prices. But is ticket scalping really undesirable?
Not on economic grounds! We must fi rst recognize that such ticket resales
are voluntary transactions. If both buyer and seller did not expect to gain from the exchange, it would not occur! There are no losers or victims here. Both buyer and seller benefi t from the transaction. The scalping market simply redistributes assets (game or concert tickets) from those who would rather have the money to those who would rather have the tickets.

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