Which of the Following Statements Best Defines Dynamic Pricing

question 112

Multiple Choice

Which of the following statements best defines dynamic pricing?

• A) It is the practice of marking up prices by 100 percent,or doubling the cost.
• B) It is a basic,long-term pricing framework that establishes the initial price for a product.
• C) It is the ability to change prices very quickly.
• D) It is the practice of charging a very low price for a product with the intent of driving competitors out of business.

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Definitions:

Ethical Principles

Fundamental guidelines or rules that govern ethical behavior and decision-making.

Decision Making

The process of selecting among several alternatives to achieve a desired outcome or solve a problem.

Organizational Rewards

The benefits, both tangible and intangible, that an organization offers to its members for their contributions.

Collective Accomplishments

Achievements or outcomes that result from the collaborative efforts of a group or team.