A Strategy of Selling a New Product or Service at a High

question 32

Multiple Choice

A strategy of selling a new product or service at a high price that innovators and early adopters are willing to pay to obtain is called:

• A)price fixing.
• B)price skimming.
• C)price discrimination.
• D)bait and switch.
• E)predatory pricing.

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Definitions:

Social Institutions

Complexes of norms, behaviors, and social structures that fulfill societal needs, such as family, education, and government.

Social Justice

Social justice is the concept of fair and just relations between the individual and society, measured by the distribution of wealth, opportunities for personal activity, and social privileges.

Rawls

A philosopher named John Rawls, famous for his theories of justice, including the principles of 'justice as fairness.'

Theory

A systematic set of ideas intended to explain facts or phenomena, often based on principles independent of the things to be explained.