Sherrie Is Seven Years Old and Wants to Open a Lemonade

question 40

Multiple Choice

Sherrie is seven years old and wants to open a lemonade stand in her neighborhood.She is having a tough time deciding whether to base her pricing objectives on market share,dollar sales,or unit sales.Regardless of which she chooses,her pricing objective can be categorized as:

• A) status quo
• B) profit oriented
• C) need oriented
• D) cost oriented
• E) sales oriented

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Definitions:

Practice Observations

The act of repeatedly watching or monitoring phenomena to gain expertise or collect data in a particular field.

American Psychologist

A professional title for psychologists in the United States, often associated with the publication of the American Psychological Association.

Wilhelm Wundt

A German psychologist who is widely regarded as the father of experimental psychology, having established the first psychology laboratory in 1879.

Functionalist

A perspective in sociology and psychology that emphasizes the importance of understanding the purpose of behavior and mental processes in the individual's adaptation to the environment.