In What Pricing Strategy Prices Are Guided by the Price

question 18

Multiple Choice

In what pricing strategy prices are guided by the price other businesses set for similar products and services?

• A)customer-led pricing
• B)loss-leader pricing
• C)competition-led pricing
• D)psychological pricing

Understand dispute resolution mechanisms in international trade.

Recognize different types of business arrangements in international trade and commerce.

Understand the jurisdictional aspects of international law.

Recognize the application and impact of the Convention on Contracts for the International Sale of Goods (CISG) and the Uniform Commercial Code (UCC) on international sales contracts.

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Definitions:

Business Method Patents

Patents that protect new and innovative methods of doing business, including online business practices, financial services, and insurance products.

Registered Trademark

A symbol, word, or phrase that has been officially registered with a government authority to differentiate products or services.

Trade Secret

A formula, practice, process, design, instrument, pattern, or compilation of information that is not generally known or reasonably ascertainable, by which a business can obtain an economic advantage over competitors or customers.

Unique Manufacturing

A production process characterized by creating novel and one-of-a-kind products not readily available in the market.