Match Each Item with the Correct Statement Below

question 184

Multiple Choice

Match each item with the correct statement below.
-The process of inviting potential suppliers to quote prices on proposed purchases or contracts is known as _____.

• A)competitive bidding
• B)penetration pricing strategy
• C)list price
• D)trade discount
• E)price flexibility
• F)promotional pricing
• G)loss leader
• H)cannibalization
• I)bundle pricing
• J)odd pricing
• K)transfer price
• L)profit center
• M)skimming pricing strategy
• N)competitive pricing strategy
• O)pricing policy
• P)market price
• Q)noncumulative quantity discount
• R)step out
• S)bot
• T)cash discount

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Definitions:

Undue Influence

Improper or unfair persuasion exerted on someone to coerce them into making a decision they would not otherwise make.

Wrongful Coercion

The act of compelling someone to act in a certain way by use of threats, intimidation, or some other form of pressure that is illegal or unjust.

Unfair Persuasion

A legal concept in contract law where one party significantly influences another to enter into an agreement against their free will or without full understanding.

Concealment

The act of hiding or withholding information that is material to a decision or agreement, often considered fraudulent in legal contexts.