Which of the Following Strategies Establishes a Price Based on the Actions

question 69

Multiple Choice

Which of the following strategies establishes a price based on the actions of rival firms?

• A) competition-based pricing
• B) cost-based pricing
• C) demand collection system
• D) bundling

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Definitions:

Drive-Reduction Theory

The idea that a physiological need creates an aroused tension state (a drive) that motivates an organism to satisfy the need.

Maintain Homeostasis

The process by which living organisms regulate their internal environment to stabilize health and functioning, despite external changes.

Instinct

A complex behavior that is rigidly patterned throughout a species and is unlearned.

Inner Bodily States

The physical sensations and feelings that originate within the body, such as hunger, thirst, fatigue, or pain.