Carmex Uses All of the Following Approaches to Setting the Price

question 3

Multiple Choice

Carmex uses all of the following approaches to setting the price of its products except which?

• A)profit-oriented
• B)competition-oriented
• C)cost-oriented
• D)elasticity-oriented
• E)demand-oriented

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Definitions:

International Trade

The exchange of goods and services between countries, which allows for increased efficiency and market expansion.

Regionalization

Regionalization is the process of dividing an area into smaller regions for administrative, economic, or cultural purposes.

Underdevelopment

A condition in which a country or region suffers from a lack of economic growth and development, often measured by low GDP per capita, poor infrastructure, and inadequate social services.

Glocalization

The process of adapting global practices to fit local cultures and preferences, merging global influences with local traditions.