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Fair Value of Second Car

Fair Value of Second Car

You are planning to sell your car. A friend is interested to buy this model.
You need to assess the fair value of car.
You both approach a dealer and discover that dealer will buy your car at $500 and will sell the same model ,on as is where basis, at $600.
What car price would you like to agree to sell with friend?
Photo Adaptation : https://pixabay.com/vectors/car-vehicle-automobile-auto-310953/
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The type of thinking we do!

We engage in various types of thinking for solving different problems. Thinking is a problem solving process. A process in which we reason about something. Types of thinking, we do · Concrete thinking – When we think in terms of our perception of actual or concrete things. Also called perceptual thinking. · Conceptual thinking – When we use concepts and languages. Also called abstract thinking. · Reflective thinking – When we solve complex problems and use facts and knowledge in a logical way to arrive at the solution. · Creative thinking – When we create or construct something new or novel thing. Also called thinking out of the box. · Critical thinking - When we evaluate everything and step aside our belief system to discover the truth. · Divergent thinking – When we explore a number of alternatives. · Convergent thinking –When we combine a number of ideas to arrive at a solution. · Associative thinking – When we think which is non-directed and without a goal · Linear thinking – When we process information in a sequential manner. · Gestalt Thinking – When we see the big and whole picture.

Cognitive abilities such as thinking, reasoning and problem-solving are some of the key characteristics which distinguish us from other species.