Setting Prices for Products and Services Requires Entrepreneurs to Balance

question 75

Multiple Choice

Setting prices for products and services requires entrepreneurs to balance a multitude of complex forces as entrepreneurs determine prices for their goods and services that will draw customers and ________.

• A)position prices lower than all competitors
• B)produce a profit
• C)effectively compete with online alternatives
• D)have high volume/high margin sales

Recognize various approaches companies adopt to promote ethical behavior and social responsibility.

Understand the concept and motivations behind whistle-blowing in the corporate context.

Acknowledge the recyclability of electronic products and the environmental responsibility of corporations.

Understand the conflict between loyalty and truthfulness in the business world and the role of whistle-blowers.

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Definitions:

Floating

In sociological terms, refers to a state of being detached from traditional societal, cultural, or employment anchors.

Spuriousness

A situation in statistical analysis where a perceived correlation or association between two variables is actually caused by a third variable.

Correlation

A measure of how strongly two variables are related to each other.

Causation

The action of causing something, in research it generally refers to the relationship between variables where one variable directly affects another.