Examlex
A customer has a piece of paper that states that he will receive five dollars off the selling price if he purchases a certain brand of teeth whitening strips. What sales promotion technique is being offered to this customer?
Expected Value
The anticipated value for a given investment, calculating all possible outcomes under a set of probabilities.
Dipstick
A tool used for measuring the quantity of a liquid in a reservoir, commonly used for checking oil levels in engines.
Sealed-Bid
A method of auction where all bidders submit their bids in secret, with the highest bid usually winning without others knowing the bid amounts.
Lemons
In economics, refers to a market problem where sellers have more information than buyers regarding the quality of goods, leading to adverse selection. Also, a citrus fruit.
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