Establishing Different Prices Based on Demand Is

question 29

Multiple Choice

Establishing different prices based on demand is

• A)marketing pricing
• B)variable pricing
• C)dynamic pricing
• D)demand pricing

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Definitions:

Rescind

The legal act of canceling, revoking, or annulling a contract or agreement, effectively bringing it to an end.

Damages

Monetary compensation awarded by a court to a person who has suffered loss or harm as a result of another's action or inaction.

Statutory Amount

A specific sum of money that is prescribed by statute or law for various purposes.

Extortion

A criminal offense in which a person obtains money, property, and/or services from another by wrongfully threatening or inflicting harm on the other’s person, property, or reputation. Also called blackmail.