David Is Selling a Set of Knives That Is Very

question 114

Multiple Choice

David is selling a set of knives that is very expensive for the entire set. One tactic he uses is to ask people to try the paring knife and then ask them to purchase it for $5.00. Then he asks them to try other knives until he eventually works up to asking consumers to purchase the entire set of knives. Which selling technique is David using?

• A) foot-in-door
• B) door-in-the-face
• C) even-a-penny-will-help
• D) "I'm working for you!"

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Definitions:

Quantity and Quality

Refers to the amount and the standard of a product or service, indicating its overall value or suitability.

Coincidence of Wants

A situation in a barter system where two parties each have something the other wants, facilitating an exchange without the need for money.

Total Output

The total quantity of goods and services produced by an economy, sector, or individual producer over a specified period.

Coincidence-of-Wants Problem

Refers to the difficulty in barter transactions where each party needs to have what the other wants and be willing to trade for it simultaneously.