In Setting Prices for Products and Services, Managers May Attempt

question 199

Multiple Choice

In setting prices for products and services, managers may attempt to charge what the customer is willing to pay however, too high a price may ________.

• A) deter a customer from purchasing a product and seek alternatives
• B) increase demand and demand for the product
• C) indicate supply is too plentiful
• D) decrease a competitor's market share

---

Definitions:

Amerigo Vespucci

An Italian explorer for whom the Americas are named, recognized for demonstrating that Brazil and the West Indies did not represent Asia's eastern outskirts as initially conjectured by Columbus.

Martin Waldseemüller

A German cartographer who created the first map to name and depict the Americas as separate continents, published in 1507.

Colonial Plantation Economy

An economic system prevalent in the American colonies that relied heavily on the cultivation of cash crops using slave labor.

Canaries

Small, singing birds often kept as pets, known for their vibrant color and melodious songs.