Ethical Behavior

question 133

Multiple Choice

Ethical behavior:

• A) assumes that an economic level of social responsibility exists in the organization.
• B) assumes that the individual is operating at an unrestricted moral level.
• C) refers to following the rules and treating others fairly.
• D) assumes that human interaction is reciprocal.
• E) refers to adhering to a generic religious principle.

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Definitions:

Loss-leader Pricing

A pricing strategy where a product is sold at a loss to attract customers, with the expectation they will make additional purchases of other items at regular prices.

Elastic Demand

Demand for which a given percentage change in price results in an even larger percentage change in quantity demanded.

Odd Pricing

A pricing tactic in which a firm prices products a few cents below the next dollar amount.

Price Sensitivity

How much the desire for a product or service shifts in response to price variations.