In the US, a High Price Is Often Seen as a Signal

question 13

Essay

In the U.S., a high price is often seen as a signal of premium quality for many product categories.Discuss, using examples, of how price is used as a signal in other markets.

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Definitions:

Internet Transactions

Deals or agreements made or executed over the internet involving goods, services, or digital products.

Electronic Contracts

Legal agreements that are created, signed, or stored in digital form, often involving transactions or terms agreed upon through electronic means.

Postbox Rule

A legal principle that deems an offer as accepted once the acceptance has been posted, even if it is never received by the offeror.

Electronic Mail

A method of exchanging messages digitally through the internet or other computer networks.