In Industries in Which Pricing Is a Key Factor,________ Often

question 80

Multiple Choice

In industries in which pricing is a key factor,________ often set the best prices or help others in setting them.

• A) sales managers
• B) salespeople
• C) production managers
• D) finance managers
• E) pricing departments

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Definitions:

Consideration Requirement

The consideration requirement is a fundamental principle of contract law that mandates a contract must involve an exchange of value between the parties for it to be legally binding.

Monetary Value

The specific amount of money something is worth, often determined by market conditions, demand, and utility.

Promissory Estoppel

A legal doctrine preventing an individual from reneging on a promise when another person has reasonably relied on that promise to their detriment.

Gratuitous Promise

A commitment or pledge that one person makes to another without demanding or expecting anything in return, often not legally binding.