Revenue Management Systems Modify the Prices of Products and Services

question 51

Multiple Choice

Revenue management systems modify the prices of products and services dynamically based on

• A) intuition, demand, and supply.
• B) intuition, competition, and supply.
• C) business rules, demand, and supply.
• D) business rules, supply, and intuition.

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Definitions:

Portion Size

The amount of a particular food that is served to one person, typically in a single eating occasion.

Neophobia

The fear or aversion to new experiences, ideas, or unfamiliar situations.

Body Mass Index

A numerical measurement of a person's weight in relation to their height, used to classify underweight, healthy weight, overweight, and obesity.

Weight-To-Height Ratio

A measurement used to assess a person's body size in relation to their height, often used to evaluate nutritional status or growth.