A Relative Price Is the

question 42

Multiple Choice

A relative price is the

• A) slope of the demand curve.
• B) difference between one money price and another.
• C) slope of the supply curve.
• D) ratio of one money price to another.

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Definitions:

Contractual Vertical Marketing System

A system in which independent firms at different levels of the distribution chain work together through contractual agreements to achieve greater economies of scale and reach a greater market effectiveness than they could achieve alone.

Horizontal Marketing System

A collaboration strategy where companies at the same level of the value chain join forces to exploit a marketing opportunity.

Administered Vertical Marketing System

A coordinated marketing system managed by a single channel member to achieve efficient distribution.

Wholesaler-sponsored Voluntary Chains

Agreements between independent retailers and wholesalers to engage in bulk buying and standardized selling practices to compete with large chains.