If General Motors Determines That It Wants to Sell 200,000

question 27

Multiple Choice

If General Motors determines that it wants to sell 200,000 Chevrolet Acadias and sets the price at $29,500 because it knows that at that price it will reach that goal, the firm would be using a ____ pricing method.

• A) cost-plus
• B) competition-based
• C) psychological
• D) comparison
• E) demand-based

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Definitions:

Raise Money

The process of acquiring funds to support a project, initiative, or organization, typically through investments, donations, or loans.

Boards

Groups of individuals elected or appointed to oversee and guide the policies, strategic direction, and financial stewardship of an organization.

Monitoring Performance

The continuous process of evaluating and assessing the performance of a program, project, or employee over time to ensure objectives are being met.

Nonprofit Boards

Governing bodies within nonprofit organizations that provide oversight, strategic direction, and ensure the organization’s resources are used efficiently towards achieving its mission.