Which of the Following Would Be an Economic Explanation of How

question 64

Multiple Choice

Which of the following would be an economic explanation of how "99¢ pricing" was developed?

• A) It was a sales gimmick that sellers used to try to fool their customers.
• B) It was encouraged by a penny newspaper to increase the number of pennies in circulation.
• C) It was a scheme to let firms advertise that their prices were under some round dollar figure.
• D) It was a way of ensuring that sales were recorded on cash registers,thus reducing employee theft.

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Definitions:

Obligation

An obligation is a legal or moral duty to do or not do something.

Kenya Communications Act

Legislation governing telecommunications and broadcasting services in Kenya, aimed at facilitating the development of the information and communications sector.

Negotiable Instrument

A legal document guaranteeing the payment of a specific amount of money, either on-demand or at a set time, with the payer named on the document.

Legal

Pertaining to the law or the practice of law, involving legal matters, procedures, or documentation.