Price Discrimination Refers to

question 80

Multiple Choice

Price discrimination refers to

• A)the practice of charging different prices to different buyers for goods of like grade and quality.
• B)an arrangement a manufacturer makes with a reseller to handle only its products and not those of a competitor.
• C)the practice of charging a very low price for a product with the intent of driving competitors out of business.
• D)a conspiracy among firms to set prices for a product or service.
• E)a seller's requirement that the purchaser of one product also buy another product in the line.

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Definitions:

Supply Chain

A network between a company and its suppliers to produce and distribute a specific product to the final buyer.

Inventory Management

The practice of ordering, storing, tracking, and controlling inventory to ensure availability while minimizing costs.

Insource

refers to shifting jobs or tasks that were previously outsourced back within the organization, often to maintain control or reduce costs.

Outsource

The practice of hiring third-party service providers to perform tasks, handle operations, or provide services that are either difficult to manage or are outside the company's expertise.