Priceline,which Offers Passengers a Chance to Name Their Own Price

question 33

True/False

Priceline,which offers passengers a chance to name their own price for flights,is an example of a competition-led pricing technique.

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Definitions:

Law Merchant

A body of commercial law used by merchants, covering aspects of contracts, payments, transactions, and dispute resolution.

Merchant Guilds

Associations of merchants and traders in medieval towns, formed to protect mutual trading interests, regulate commerce, and ensure business security.

Sale of Goods Act

Legislation governing the sale of goods, ensuring rights, obligations, and remedies in transactions are clear and enforceable.

Constitution Act, 1982

A significant part of the constitution of Canada that introduced many fundamental changes, including the Canadian Charter of Rights and Freedoms.