Which of the Following Statements About Price Is True

question 142

Multiple Choice

Which of the following statements about price is true?

• A) Price and revenue are synonyms.
• B) Price always equals some monetary figure.
• C) Price is not necessarily based on the satisfaction consumers receive from a product.
• D) High prices result in high profits.
• E) All of these statements about price are true.

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Definitions:

Triple Bottom Line

Reporting that includes financial performance, social performance, and environmental performance.

Motivated Reasoning

The tendency for a person to see what he or she wants to see in data.

Cognitive Bias

A consistent tendency to stray from normal or logical reasoning in making judgments, leading to drawing conclusions about others and situations in an unreasonable way.

Corporate Social Responsibility

A business model where companies integrate social and environmental concerns in their operations and interactions with stakeholders.