Setting a High Price So That Quality- or Status-Conscious Consumers

question 296

Multiple Choice

Setting a high price so that quality- or status-conscious consumers will be attracted to the product and buy it is referred to as

• A) skimming pricing.
• B) status pricing.
• C) price lining.
• D) value pricing.
• E) prestige pricing.

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Definitions:

1824

The year notable for the United States presidential election where no candidate received a majority in the Electoral College, leading the House of Representatives to choose the president in a contingent election.

Slave Trade

The historical trade involving the forcible transport and sale of human beings as slaves, particularly prevalent across the Atlantic Ocean from the 16th to the 19th centuries.

Jeffersonian America

A period in U.S. history characterized by Thomas Jefferson's presidency and ideals, focusing on agrarian democracy, limited government, and states' rights.