Which of the Following Is a Term Used to Describe

question 79

Multiple Choice

Which of the following is a term used to describe activities performed by sellers and others that accompany the sale of a product and that aid in its exchange or its utilization?

• A) Securing a bank loan
• B) Home security
• C) Airlines
• D) Warranty on computer equipment

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Definitions:

Marginal Cost

The outgoings involved in creating one more unit of a product or service.

Price Discrimination

Involves selling the same product to different customers at different prices based on what each is willing to pay, rather than differences in production cost.

Price Discrimination

The practice of charging different prices for the same product or service to different consumers, based on what each is willing to pay.

Senior Citizens

Individuals of an advanced age, often defined as being 65 years old or older, who may have different social, economic, and healthcare needs.