Why Do Prices Suddenly Jump on Black Friday?

Imagine you're playing a game where everyone wants the same toy, but there are only a few of them. The store starts with high prices, and then suddenly they drop, that's like saying 'we want to get this toy out of your hands as fast as possible!' This is what happens on Black Friday. Stores do it to get more people excited about shopping all at once.

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Examples

  1. A toy store lowers the price of a popular action figure to get kids excited about shopping.
  2. A customer sees a big sign that says 'Only 10 left!' and rushes to buy it before it's gone.
  3. A person buys a discounted phone just because they saw someone else buying one.

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