Ebay assignment

It was quite hard at first trying to figure out how to bid and what strategies to bid on. However because the item that I was bidding on did not have that much people bidding on it, it was quite easy. There was two people or maybe just one who was bidding against me. I was surprised when I placed in a bid, the refreshed page, there was a bidder already. So then I had to bid again but for some reason, it had to be added 50 cents higher for I thought one can just placed 1 or 2 cents higher. After 4 bids on the item, there was no more people bidding, which leaves waiting for the auction to end. It was nervous and exciting to wait for the last 10 or 5 minutes of the auction because no one would know if others would bid. Also if someone is going to use j-bid or not and if they do bid, one might not have enough time to bid again. Then they would lose the auction/item. However I won and it feel good to get the item you really wanted.
The experience on bidding in ebay connects to capitalism because it is like the competition in the free market or anywhere where people is trying to get profit. Because the seller has the items that people desire, depending on the quantity of that item, people would demand for it. If there is only a few, people would raise the price and compete with each other. Some people would raise the price a lot so no one can bid on it shows how our American way of life because for the things we want, we would compete it very large, for ebay, its the money/price. There's scarcity of items, people would demand more if the item is very popular and rare. Also, people would find the cheaper items, so the sellers have to make it cheaper so there's competition betwen sellers and buyers.