When the Apple IPhone 3G Was Introduced,the Apple ITunes Web

question 133

Multiple Choice

When the Apple iPhone 3G was introduced,the Apple iTunes Web site also began selling small program "apps" written by third parties that could be run on the iPhone.One interesting app was the "I Am Rich" application.For a price of $1,000,you could buy this app that did nothing but display a red gem on the iPhone's screen.The description of the app stated that this red icon would remind you (and others you show it to) "that you were rich enough to afford this." Six of the applications were sold before Apple,Inc.removed the app from iTunes.At the $1,000 price,the author of the app was using _____ pricing as part of his marketing approach.

• A)snob appeal
• B)prestige
• C)exclusive
• D)selective
• E)unique

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Definitions:

Arithmetic Operations

The basic operations in mathematics, which are addition, subtraction, multiplication, and division.

Compound Interest

A method of calculating interest where the interest is added to the principal so that, from that moment on, the interest that has been added also earns interest.

Exponential Decay

A process by which a quantity decreases at a rate proportional to its current value.

Financial Calculation

The process of crunching numbers to determine outcomes related to investments, savings, profitability, and other financial metrics.