A Fixed-Price Policy Refers to

question 26

Multiple Choice

A fixed-price policy refers to

• A) setting different prices for products and services in real time in response to supply and demand conditions.
• B) setting the price of an entire line of products at a single specific pricing point.
• C) simultaneously setting prices for all items in a product line to cover the total cost and produce a profit for the complete line, not necessarily for each item.
• D) adding a fixed percentage to the cost of all items in a specific product class.
• E) setting one price for all buyers of a product or service.

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Definitions:

Third-Party Payments

Transactions where a person or entity other than the direct participants (buyer and seller) undertakes to cover the cost or payment, commonly found in healthcare and insurance industries.

Medicare

A federal health insurance program in the United States primarily for people aged 65 and older, as well as for some younger people with disabilities.

Medicaid

A social health care program for families and individuals with low income and resources.

Medicare

A federal program providing health insurance to people over 65 and to certain younger people with disabilities, funded by payroll taxes, premiums, and the federal government.