Explain the Concept of Price Skimming

question 103

Essay

Explain the concept of price skimming.In what markets price skimming is recommended?

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Definitions:

Duress

The use of force, coercion, or threats to compel someone to act against their will or to force them into a contractual agreement.

Coercion

The practice of persuading someone to do something by using force or threats.

Consumer Contracts Law

The body of law that governs agreements between individuals and businesses selling goods and services to consumers.

Civil Code

A systematic collection of laws designed to deal comprehensively with the core areas of private law such as property, family, and contracts.