When a Firm Uses Surge or Dynamic Pricing

question 117

Multiple Choice

When a firm uses surge or dynamic pricing,

• A)it changes price in "real time" according to market demand.
• B)consumers pay less during peak times.
• C)the firm sets the price based on the previous day's demand.
• D)it commits to a set pattern of pricing.

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Definitions:

World Trade Organization

An international organization dealing with the global rules of trade between nations, aiming to ensure that trade flows as smoothly, predictably, and freely as possible.

National Treatment

A principle in international law where a country treats products and companies from other nations no less favorably than its own.

Statute of the International Court of Justice

The foundational treaty that established the International Court of Justice as the principal judicial organ of the United Nations, outlining its functions and procedures.

Constitution

The fundamental law or set of principles that defines the structure, powers, and limits of a government.