create account

Buying and Selling Game Contest #6 – 30 Hive to be won by spectrumecons

View this thread on: hive.blog |  peakd.com |  ecency.com
contest · @spectrumecons · (edited)
$6.89
Buying and Selling Game Contest #6 – 30 Hive to be won
Hi Everyone,


![BUY_SELL_THUMB_C6.jpg](https://images.hive.blog/DQmYJoc6u3PZwBfFZBy36B5JaXCdbdkMDVVxcgUU1zNqVaR/BUY_SELL_THUMB_C6.jpg)


## Welcome to the ‘Buying and Selling’ Game.

-----

## How to play?

----

The ‘Buying and Selling’ Game involves three simple steps. 

1.	Choose one or more of six goods to buy.
2.	Choose the town or city where you will be buying these goods.
3.	Choose the town or city where you will be selling these goods.

All the information you need to know to play the game is provided in the question; i.e. no external research is required as all prices are hypothetical and locations are fictitious.

All entries must be made in the comments section of this post.

Each account is only permitted one entry.

## Objectives of the game

---

The objective of the game is to make the highest profit from the sale of all the goods you have bought. If two participants make the exact same profit, the participant that entered first wins.

## Game assumptions

----

All goods of the same type are identical; for example, Good A bought in Town X is the same as Good A bought in Town Y.

There are zero transaction and transport costs.

All towns and cities use the same currency.

## What information is provided?

---

-	All the towns and cities are provided.
-	All the goods that can be bought in the game are provided.
-	All the buying prices of the goods are provided.
-	None of the selling prices of the goods are provided. Instead, a possible range of prices is provided. This range is represented by maximum, minimum, and mode prices.

## How are the results of the game determined?

----

A Microsoft Excel Model is used to determine the selling prices of each good in each town or city. These prices will be used to calculate the profits made by each participant. In the results post, the calculation of the selling price will be presented in a video. Below is the results post for Contest 5.

[![Contest_5_Buy_Sell_Game_Results.jpg](https://files.peakd.com/file/peakd-hive/spectrumecons/5fyEq5BU-Contest_5_Buy_Sell_Game_Results.jpg)](https://peakd.com/hive-196037/@spectrumecons/5mj29xzjbax)

## Contest Prizes

----

The account with the winning entry will receive 30 Hive and 10 random entries will be given upvotes.

## Let the contest begin

----

For this contest, participants have been allocated **$50,000** to buy 1 or more kitchen appliances from any of the 5 fictitious towns/cities. These towns/cities are as follows:

-	Titan City
-	Space Town
-	Quaint Town
-	Seaside Town
-	Stretch Town

See map below:

## Map of Towns and Cities
![Map_C6.jpg](https://images.hive.blog/DQmPJNWJrws4Q33Bh992o26uWgAQ8GXBXw8oStiwTcUynEJ/Map_C6.jpg)

The kitchen appliances are available at all 5 fictitious towns/cities. The available kitchen appliances are as follows:

-	Refrigerators
-	Ovens
-	Microwave Ovens
-	Kettles
-	Toasters
-	Dishwashers


Table 1 contains the prices of the kitchen appliances at each city/town.

### Table 1: Prices of Kitchen Appliances at each city/town

![Buy_price_c6.jpg](https://images.hive.blog/DQmU4wEtoht8c3xSzLo4uZGJtj2SmGHgzpy8EX7nUjs91nS/Buy_price_c6.jpg)
**Note: Kitchen appliances can only be bought as whole pieces. For example, a participant could only buy 92 dishwashers from Space Town, as there is insufficient money to buy the 93rd dishwasher.**

After buying the kitchen appliances, the participant must then sell all of the kitchen appliances he or she has bought in just one of the towns/cities named in the question. Remember, the selling prices are revealed in the results post. These prices are determined using the information provided in Tables 2, 3, and 4.

### Table 2: Minimum, maximum, and mode (Titan City & Space Town)

![Sell_price_1_c6.jpg](https://images.hive.blog/DQmao17CoyEFGUvcW877DuH7oqvSEgfx5rMtMtrM795wpmV/Sell_price_1_c6.jpg)

### Table 3: Minimum, maximum, and mode (Quaint Town & Seaside Town)

![Sell_price_2_c6.jpg](https://images.hive.blog/DQmWSnBQNZ2RNNjqvCvxpu3TsUweJWePF6msRiZCVFoifUU/Sell_price_2_c6.jpg)

### Table 4: Minimum, maximum, and mode (Stretch Town)

![Sell_price_3_c6.jpg](https://images.hive.blog/DQmT7MYatzPNoXoNPZ6XfwbGXjTHVefoupPZcqxZDahTfDw/Sell_price_3_c6.jpg)

------

### Entry format

------

For this contest, I expect to see entries made in the following format:

Buying
Name of Place: 
Goods purchased: 
Number purchased: 
Amount spent on goods: 

Selling
Name of Place: 


### Example of entry

------


Buying
Name of Place: Quaint Town
Goods purchased: Refrigerators
Number purchased: 62
Amount spent on goods: $49,600

Selling
Name of Place: Titan City

------


The closing date and time for this contest is **6PM coordinated universal time (UTC) 31/05/2020**.  Responses after this time will not be accepted. The answers will be provided in the results post along with the video of the generation of selling prices using the model.

I hope everyone has fun and enjoys this contest. 

## More information

---

If you want to know more about the ‘Buying and Selling’ Game, I suggest that you watch the following video:

https://www.youtube.com/watch?v=u5uMfTT2Juo

If you have any questions, feel free to ask in the comments section.  

-----

## More posts

![More_Contnet.jpg](https://files.steempeak.com/file/steempeak/spectrumecons/CiKvPiXJ-More_Contnet.jpg)

If you want to read any of my other posts, you can click on the links below. These links will lead you to posts containing my collection of works. These 'Collection of Works' posts have been updated to contain links to the Hive versions of my posts.

<a href="https://peakd.com/archive/@spectrumecons/collection-of-works-part-1" rel="nofollow noopener">![Pt1_N.jpg](https://images.hive.blog/DQmVspZpbVSqDhSiMJqzkza6qvfUzZLdzE2V8QGNoz6YLAb/Pt1_N.jpg)</a>

<a href="https://peakd.com/archive/@spectrumecons/collection-of-works-part-2" rel="nofollow noopener">![Pt2_N.jpg](https://images.hive.blog/DQmWqBWxH1sJwbz4Cm9w59LX84pLfP58YYX7azQoYBTMMdB/Pt2_N.jpg)</a>

<a href="https://peakd.com/archive/@spectrumecons/collection-of-works-part-3" rel="nofollow noopener">![Pt3.jpg](https://cdn.steemitimages.com/DQmbFSMxEcb8YXrv9YDgE9LKqe1BL3VWbVq5JDjcmiE26Yg/Pt3.jpg)</a>

<a href="https://peakd.com/archive/@spectrumecons/collection-of-works-part-4" rel="nofollow noopener">![Pt4_N.jpg](https://images.hive.blog/DQmdh5LB5zLU2eyVrMfk6LhshJDYwU4sjJKWYF8wNtfhDcQ/Pt4_N.jpg)</a>

## Future of Social Media

![Hive_Future_Social_Media.jpg](https://files.peakd.com/file/peakd-hive/spectrumecons/iHLfHz7I-Hive_Future_Social_Media.jpg)
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 24 others
properties (23)
authorspectrumecons
permlinkbuying-and-selling-game-contest-6-20-hive-to-be-won
categorycontest
json_metadata{"tags":["contest","challenge","giveaway","steemleo","palnet","economics"],"image":["https://images.hive.blog/DQmYJoc6u3PZwBfFZBy36B5JaXCdbdkMDVVxcgUU1zNqVaR/BUY_SELL_THUMB_C6.jpg","https://files.peakd.com/file/peakd-hive/spectrumecons/5fyEq5BU-Contest_5_Buy_Sell_Game_Results.jpg","https://images.hive.blog/DQmPJNWJrws4Q33Bh992o26uWgAQ8GXBXw8oStiwTcUynEJ/Map_C6.jpg","https://images.hive.blog/DQmU4wEtoht8c3xSzLo4uZGJtj2SmGHgzpy8EX7nUjs91nS/Buy_price_c6.jpg","https://images.hive.blog/DQmao17CoyEFGUvcW877DuH7oqvSEgfx5rMtMtrM795wpmV/Sell_price_1_c6.jpg","https://images.hive.blog/DQmWSnBQNZ2RNNjqvCvxpu3TsUweJWePF6msRiZCVFoifUU/Sell_price_2_c6.jpg","https://images.hive.blog/DQmT7MYatzPNoXoNPZ6XfwbGXjTHVefoupPZcqxZDahTfDw/Sell_price_3_c6.jpg","https://files.steempeak.com/file/steempeak/spectrumecons/CiKvPiXJ-More_Contnet.jpg","https://images.hive.blog/DQmVspZpbVSqDhSiMJqzkza6qvfUzZLdzE2V8QGNoz6YLAb/Pt1_N.jpg","https://images.hive.blog/DQmWqBWxH1sJwbz4Cm9w59LX84pLfP58YYX7azQoYBTMMdB/Pt2_N.jpg","https://cdn.steemitimages.com/DQmbFSMxEcb8YXrv9YDgE9LKqe1BL3VWbVq5JDjcmiE26Yg/Pt3.jpg","https://images.hive.blog/DQmdh5LB5zLU2eyVrMfk6LhshJDYwU4sjJKWYF8wNtfhDcQ/Pt4_N.jpg","https://files.peakd.com/file/peakd-hive/spectrumecons/iHLfHz7I-Hive_Future_Social_Media.jpg"],"links":["/hive-196037/@spectrumecons/5mj29xzjbax","/archive/@spectrumecons/collection-of-works-part-1","/archive/@spectrumecons/collection-of-works-part-2","/archive/@spectrumecons/collection-of-works-part-3","/archive/@spectrumecons/collection-of-works-part-4"],"app":"peakd/2020.05.5","format":"markdown","users":["spectrumecons"]}
created2020-05-25 15:57:27
last_update2020-05-28 09:05:15
depth0
children6
last_payout2020-06-01 15:57:27
cashout_time1969-12-31 23:59:59
total_payout_value3.514 HBD
curator_payout_value3.378 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length6,524
author_reputation287,981,858,100,848
root_title"Buying and Selling Game Contest #6 – 30 Hive to be won"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id97,582,550
net_rshares15,182,989,070,405
author_curate_reward""
vote details (88)
@doctorcrypto · (edited)
$0.78

You are hurting my brain with all this thinking. :)
Ok here is my shot.

Buying
Name of Place: <b>Space Town</b>
Goods purchased:<b> Refrigerators</b>
Number purchased:<b>90</b>
Amount spent on goods:<b>$49,500</b>

Selling
Name of Place:<b>Quaint Town</b> $72,000

Buy low sell high....no time to dilly dally because....
We got to move these refrigerators.
https://media.giphy.com/media/xT1Ra16Bu9BhderWsE/giphy.gif
*Old Persons Joke!*
👍  
properties (23)
authordoctorcrypto
permlinkre-spectrumecons-qb1fdc
categorycontest
json_metadata{"tags":["contest"],"app":"peakd/2020.05.5"}
created2020-05-28 10:48:45
last_update2020-05-28 10:49:21
depth1
children1
last_payout2020-06-04 10:48:45
cashout_time1969-12-31 23:59:59
total_payout_value0.392 HBD
curator_payout_value0.392 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length440
author_reputation15,262,316,111,880
root_title"Buying and Selling Game Contest #6 – 30 Hive to be won"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id97,635,125
net_rshares2,404,600,753,330
author_curate_reward""
vote details (1)
@spectrumecons · 
That's awesome, welcome to the contest.
properties (22)
authorspectrumecons
permlinkre-doctorcrypto-qb515w
categorycontest
json_metadata{"tags":["contest"],"app":"peakd/2020.05.5"}
created2020-05-30 09:32:24
last_update2020-05-30 09:32:24
depth2
children0
last_payout2020-06-06 09:32:24
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length40
author_reputation287,981,858,100,848
root_title"Buying and Selling Game Contest #6 – 30 Hive to be won"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id97,671,180
net_rshares0
@steemflow · 
Is it fine to sell in more than one city ?
properties (22)
authorsteemflow
permlinkre-spectrumecons-2020525t214854850z
categorycontest
json_metadata{"tags":["contest","challenge","giveaway","steemleo","palnet","economics"],"app":"esteem/2.2.5-mobile","format":"markdown+html","community":"hive-125125"}
created2020-05-25 16:18:57
last_update2020-05-25 16:18:57
depth1
children3
last_payout2020-06-01 16:18:57
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length42
author_reputation928,270,641,612,302
root_title"Buying and Selling Game Contest #6 – 30 Hive to be won"
beneficiaries
0.
accountesteemapp
weight300
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id97,582,857
net_rshares0
@spectrumecons · 
My intention was to buy in just one city and then sell in just one city so as not to over-complicate the game. You could buy several goods from one city and then sell these goods in another city as a way to reduce risk.
properties (22)
authorspectrumecons
permlinkqawr6o
categorycontest
json_metadata{"app":"hiveblog/0.1"}
created2020-05-25 22:16:06
last_update2020-05-25 22:16:06
depth2
children2
last_payout2020-06-01 22:16:06
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length219
author_reputation287,981,858,100,848
root_title"Buying and Selling Game Contest #6 – 30 Hive to be won"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id97,587,980
net_rshares0
@steemflow · 
Hmm....looking forward to it..need to pen down first...what mode price...? Is it the average price ?
properties (22)
authorsteemflow
permlinkre-spectrumecons-2020526t83547433z
categorycontest
json_metadata{"tags":["esteem"],"app":"esteem/2.2.5-mobile","format":"markdown+html","community":"hive-125125"}
created2020-05-26 03:05:48
last_update2020-05-26 03:05:48
depth3
children1
last_payout2020-06-02 03:05:48
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length100
author_reputation928,270,641,612,302
root_title"Buying and Selling Game Contest #6 – 30 Hive to be won"
beneficiaries
0.
accountesteemapp
weight300
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id97,591,609
net_rshares0
Help/Feedback