Peak-Load Pricing Is the Practice of Charging a Lower Price

question 106

True/False

Peak-load pricing is the practice of charging a lower price for the same product or service when the demand for it approaches the physical limit of the capacity to produce that product or service.

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Definitions:

Stop-payment Order

An instruction to a bank not to process or honor a check or payment previously issued by the account holder.

Drawee Bank

The bank upon which a check is drawn and is responsible for paying the check amount to the payee.

Void Check

A void check is a check that has been cancelled or invalidated, making it non-negotiable and preventing its use for payment.

Notice Requirement

Legal obligations that mandate certain information be given to relevant parties in specific situations, often within a defined timeframe.