Setting One Price for All Buyers of a Product or Service

question 317

Multiple Choice

Setting one price for all buyers of a product or service is referred to as

• A) customary pricing.
• B) a fixed-price policy.
• C) a dynamic pricing policy.
• D) standard markup pricing.
• E) uniform pricing.

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Definitions:

Appeal

The process of asking a higher court to review and change the decision of a lower court.

Tort of Deceit

A legal claim arising when one party intentionally misrepresents a fact, causing another party to suffer damage as a result of relying on that misrepresentation.

Economic Injury

Financial damage suffered by an individual or entity, often due to the actions or negligence of another party.

BFOQ

Stands for "Bona Fide Occupational Qualification," a legal term that allows for the consideration of characteristics normally deemed discriminatory if they are essential to a job's operation.