Just Before the Landfall of Hurricane Ivan, a Convenience Store

question 8

Multiple Choice

Just before the landfall of hurricane Ivan, a convenience store manager decided to raise the price on a bottle of water from $1 to $7. This is an example of

• A) Price gouging
• B) Predatory pricing
• C) Penetration pricing
• D) Price skimming

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Definitions:

Descent Group

Any kin group whose members share a direct line of descent from a real (historical) or fictional common ancestor.

Clan

An extended unilineal kin group, often consisting of several lineages, whose members claim common descent from a remote ancestor, usually legendary or mythological.

Lineages

Social groups or entities comprised of individuals who trace their ancestry to a common ancestor in a direct line, often playing significant roles in societies' organization.

Ancestor

A person from whom one is descended, often referred to in a familial or cultural context, and sometimes revered.