When a Seller's Costs Are Usually Determined During or After

question 61

Multiple Choice

When a seller's costs are usually determined during or after a product is made and then a specified percentage or dollar amount is added to the cost to establish a price, an organization is using ____ pricing.

• A) markup
• B) demand-based
• C) differential
• D) cost-plus
• E) expense-based

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Definitions:

Civil Liberties

Individual rights protected by law from governmental interference or restriction, including freedom of speech, assembly, and religion.

Labor Rights

The protections and entitlements of workers, including the right to safe working conditions, fair wages, and freedom from discrimination, established by law and labor unions.

Great Depression

A severe worldwide economic downturn that took place during the 1930s, marked by high unemployment, significant declines in output and the standard of living, and widespread poverty.

New Deal

A series of programs, public work projects, and financial reforms enacted by President Franklin D. Roosevelt in the United States between 1933 and 1939 to help recover from the Great Depression.