Snowflakes

question 57

Multiple Choice

Snowflakes:

• A)rarely exceed a tenth of a millimeter in size.
• B)form different crystal patterns in different parts of the country.
• C)will grow very different types of crystals even at the exact same conditions.
• D)can be a combination of several different forms.

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Definitions:

Penetration Pricing

A pricing strategy aimed at entering a new market by setting a low price initially to attract customers and gain market share.

Escalator Clause

A section in a contract that provides for price increases if certain, specified conditions occur.

Loss-leader Pricing

A pricing strategy where a product is sold at a loss to attract customers, with the expectation they will make additional purchases of other items at regular prices.

Elastic Demand

Demand for which a given percentage change in price results in an even larger percentage change in quantity demanded.