Luis designs clothes for Vongowd, an apparel store. Vongowd sells clothes designed by a number of designers. However, Vongowd is Luis's only option to sell his clothes. In the context of the specific environment, which of the following concepts does this scenario best illustrate?

A) Path dependence
B) Buyer dependence
C) Supplier dependence
D) Internal dependence

B) Buyer dependence

Explanation:

Buyer dependence implies the high level of reliance by a seller or producer of a product on just one buyer because it is difficult to find another buyers for the product or the buyer is important to the sales of the producer.

In economics, this type of a buyer is called a monopsonist and the market in which he operates is called a monopsony.

A monopsony is a market where there is only one buyer called a monopsonist who is a large buyer that has huge influence to control the market. It is therefore possible for the buyer to use the advantage of his enormous power to get low prices in the market because many sellers compete with themselves to sell to him.

Therefore, in the context of the specific environment, the scenario in the question best illustrate buyer dependence.

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a progressive tax is a tax that imposes a lower tax rate on low-income earners compared to those with a higher income, making it based on the taxpayer's ability to pay. that means it takes a bigger percentage from high income earners than it does from low income people.