The Advent of the Internet and Electronic Commerce Has Greatly

question 98

Multiple Choice

The advent of the Internet and electronic commerce has greatly affected the way businesses price their goods and services and has allowed for the use of more of which of the following?

• A)zoning (or basing) pricing
• B)two-part pricing
• C)psychological (or odd-even)
• D)flexible (or variable) pricing

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Definitions:

Linear Model

A linear model is a mathematical representation used to describe the relationship between two variables by fitting a linear equation to observed data.

Cater

To provide food and drink, typically at social events and in a professional capacity.

Sales Price

The actual price at which an item or service is sold to the public, often after discounts or promotions are applied.

List Price

The advertised or published price of a product before any discounts or allowances are taken into account.