The Middle Class

question 36

Multiple Choice

The middle class

• A) had been a staple of American society since the American Revolution.
• B) emerged with the factory system, and the creation of managers and supervisors.
• C) included factory owners and yeoman farmers.
• D) was a social status that only the educated could attain.
• E) None of these choices.

---

Definitions:

Dynamic Pricing Policy

A pricing strategy where prices are adjusted in real-time based on demand, market conditions, and customer behavior.

Flexible-price Policy

A pricing strategy where the selling price of a product or service can fluctuate based on market conditions, competition, and consumer demand.

Target Pricing

Target pricing is a pricing strategy where the selling price is determined by estimating a competitive price in the market and working backward to calculate costs, aiming for a certain profit margin.

Price Cutting

A strategy where a company reduces the prices of its goods or services, often to attract more customers or compete with rivals.