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_____ Pricing Is the Strategy of Increasing the Price of a Product

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_____ pricing is the strategy of increasing the price of a product so that consumers will perceive it being of higher value.


Definitions:

Purchases

Purchases are transactions where goods or services are bought in exchange for money, contributing to consumer spending and economic activity.

Services

Economic activities that provide intangible products, such as healthcare, entertainment, and financial services, to consumers.

Cottage Industry

A small-scale industry where products are handcrafted in a home-setting, often involving traditional methods.

Division Of Labor

The allocation of different parts of a manufacturing process or task to different individuals or groups to improve efficiency and productivity.

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