______________Raising the Price of a Product to Take Advantage of Its

question 32

Multiple Choice

______________raising the price of a product to take advantage of its popularity or scarcity

• A)Price Gouging
• B)product penetration
• C)Dumping
• D)Price Fixing
• E)Grey Marketing

---

Definitions:

Liabilities

Debts or obligations of a business that arise during the course of its operations.

Withdrawals

Refers to the act of taking money out of a bank account, or in the context of partnerships, amounts taken out by partners for personal use.

Expenses

Costs incurred by a business in the process of earning revenues, including utilities, rent, payroll, and materials.

Owner's Equity

The residual interest in the assets of the entity after deducting liabilities, representing the ownership interest in the company.