Yield Management Pricing Is a Typical Tactic for Services Trying

question 64

Multiple Choice

Yield management pricing is a typical tactic for services trying to manage

• A) perceived risk.
• B) capacity.
• C) cognitive dissonance.
• D) inelasticity of demand.
• E) new product strategy development.

Comprehend the role and impact of automatic stabilizers in smoothing out economic cycles.

Understand the implications of government borrowing and the crowding-out effect in fiscal policy.

Appreciate the distinction between fiscal policy and monetary policy, including their goals and means.

Recognize the purpose and challenges associated with balanced budget amendments.

---

Definitions:

Standard Cost System

An accounting system that uses cost estimates for materials, labor, and overhead to control costs and assess operational efficiency.

Fixed Manufacturing Overhead

Payments that remain unchanged no matter the volume of production or sales, including rents, staff remuneration, and insurance agreements.

Work in Process Inventories

Goods that are in the production process but have not yet been completed.

Fixed Overhead Budget Variance

The difference between the actual fixed overhead costs incurred and the budgeted or expected fixed overhead costs.