APP1 and APP10 of the Privacy Act 1988 (Cth) Set

question 32

Multiple Choice

APP1 and APP10 of the Privacy Act 1988 (Cth) set out the obligations of businesses with respect to the collection of personal and sensitive information.These rules do not provide that:

• A)A business can collect personal information when it is necessary.
• B)A business should collect information directly rather than indirectly.
• C)A business should not make the individual aware that it is collecting such information.
• D)A business needs special permission from an individual to collect sensitive information.

Distinguish between demand-oriented, cost-oriented, profit-oriented, and competition-oriented pricing approaches.

Analyze the role of pricing in positioning a product in the market (e.g., high-quality image).

Understand the concept of price sensitivity and how it affects the success of certain pricing strategies.

Appreciate the psychological aspects of pricing, such as odd-even pricing, and their effects on consumer behavior.

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Definitions:

Displacement

In psychology, displacement is a defense mechanism where a person redirects a negative emotion from its original source to a safer, substitute target.

Projection

A defense mechanism where individuals attribute their own unacceptable thoughts, feelings, and motives to another person.

Displacement

A defense mechanism where an individual shifts emotional impulses from an undesirable object or person to a more acceptable one.

Regression

A statistical method used to model the relationship between a dependent variable and one or more independent variables.