Prices Are Called "Administered" When

question 270

Multiple Choice

Prices are called "administered" when:

• A) they are determined through negotiations between buyers and sellers.
• B) they fall below the "suggested list price."
• C) a marketing manager has to change the strategy every time a customer asks about the price.
• D) government intervenes to ensure that prices fluctuate freely in response to market forces.
• E) firms set their own prices for some period of time-rather than letting daily market forces determine their prices.

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Definitions:

Consumer

An individual who purchases goods or services for personal use, rather than for manufacturing or resale purposes.

Unwise Purchases

Decisions to buy goods or services that reflect poor judgment or impracticality, often leading to regret.

Unfair Trade Practices

Business activities deemed unethical or deceptive, often regulated by laws to protect consumers from fraud and exploitation.

Unsafe Products

Items or products that pose potential risks to consumers' health, safety, or well-being due to their design, manufacture, or lack of adequate warnings.