Economists Are Generally in Support Of

question 199

Multiple Choice

Economists are generally in support of:

• A)government restrictions on trade.
• B)free international trade.
• C)tariffs to restrict trade.
• D)subsidizing exports.

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Definitions:

Skimming Pricing

A pricing strategy where a firm charges the highest initial price that customers will pay and lowers it over time as the demand at the higher price decreases.

Target Return

A pricing strategy where the price is set based on a targeted return on investment for a product or project.

Bundle Pricing

A pricing strategy where multiple products or services are sold together at a single price, often at a discount compared to purchasing each item separately.

Standard Markup

The typical percentage added to the cost price of goods to determine the selling price.