Setting One Price for All Buyers of a Product or Service

question 280

Multiple Choice

Setting one price for all buyers of a product or service is referred to as

• A) customary pricing.
• B) a one-price policy.
• C) a dynamic pricing policy.
• D) standard markup pricing.
• E) uniform pricing.

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Definitions:

Trustee

An individual or organization that holds and administers property or assets for the benefit of a third party.

Beneficiary

An individual who receives benefits or is entitled to receive benefits from an insurance policy or trust.

Undue Influence

An improper or wrongful persuasion that compromises the free will of someone, making a decision or agreement questionable.

Rescission

The legal act of voiding a contract and returning the parties involved to their states prior to the contract, as if the contract had never existed.