________ Pricing Refers to Offering Just the Right Combination of Quality

question 11

Multiple Choice

________ pricing refers to offering just the right combination of quality and gratifying service at a fair price.

• A) Markup
• B) Good-value
• C) Cost-plus
• D) Target profit
• E) Break-even

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Definitions:

Unconscionability

A legal doctrine that describes terms that are so extremely unjust or overwhelmingly one-sided in favor of the party who has the superior bargaining power.

Consumer Misbehavior

Actions by consumers that violate the accepted norms or ethics in a marketplace, such as fraud or theft.

Innocent Misrepresentation

A false statement made by someone who believes it to be true, which induces another to enter into a contract.

Compensatory Damages

Monetary awards in a lawsuit intended to compensate the plaintiff for actual losses or damages suffered.