Examlex
A high tariff on imported good X might reduce domestic employment in industry Y if
Penetration Pricing
A strategy where a new product is introduced to the market at a low initial price to attract customers quickly and gain market share.
Skimming Pricing
A pricing strategy where a product is initially set at a high price before being gradually lowered to attract different segments of consumers.
Price-insensitive Customers
Consumers who are less affected by price changes and more focused on other factors such as quality, brand loyalty, or unique features.
Prestige Pricing
A pricing strategy where prices are set higher than average to suggest status, exclusivity, and high quality.
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Q91: What was the General Agreement on Tariffs
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