Market Skimming Makes Sense When a Product's Quality and Image

question 43

True/False

Market skimming makes sense when a product's quality and image support its higher price, and enough buyers want the product at that price.

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Definitions:

State Statute

A written law passed by a legislative body at the state level.

Usage Of Trade

Any practice or method of dealing having such regularity of observance in a place, vocation, or trade as to justify an expectation that it will be observed with respect to the transaction in question.

Commercial Practices

Activities, methods, and ethics involved in conducting business and trading of goods and services in the marketplace.

Oral Contract

An agreement between parties that is spoken and not memorialized in writing, yet is fully legal and binding.