Question

What is the name given to the price that KBB considers to be true price one should expect to pay for a car

Answer 1

Answer:

Book Value

Step-by-step explanation:

Apex

Answer 2

Answer:

Retail value.

Step-by-step explanation:

"There are three different values provided in the Blue Book Used Car Guide. The trade-in value is the amount you can expect to receive from a dealer when trading in a used vehicle. The private party value refers to the amount you can expect to pay when purchasing a used vehicle from a private individual. The retail value refers to the amount you can expect to pay at the dealer."

I did not know this so I googled it. Unlike math questions or deductive/ inductive reasoning, this is the sort of question that one cannot figure out by oneself. Presented as a multiple-choice question one could easily choose the correct answer, but we are simply not born knowing most of what there is to know. We need to learn it by instruction, research, experience and observation.