The Practice of Charging Different Prices to Various Groups of Customers

question 59

Multiple Choice

The practice of charging different prices to various groups of customers that are not based on differences in the costs of production is referred to as:

• A)predatory pricing.
• B)markup pricing.
• C)discretionary pricing.
• D)price discrimination.

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Definitions:

Worked Hours

The total number of hours spent by employees in performing their job duties within a specific period.

Gross Savings

The total amount of savings generated within an economy, representing the difference between income and consumption.

Budget Surplus

A financial situation where a government's revenues exceed its expenditures over a specific timeframe.

Military Spending

The amount of financial resources dedicated by a nation to maintaining and equipping its armed forces and defense activities.