When a Firm Offers a Very Low Price on a Product

question 14

Multiple Choice

When a firm offers a very low price on a product to attract customers to a store and once in the store the customer is persuaded to purchase a higher-priced item, the practice is referred to as

• A) predatory pricing.
• B) deceptive pricing.
• C) price discrimination.
• D) caveat emptor.
• E) bait and switch.

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Definitions:

Big Five Trait

Components of a personality theory that outlines five broad dimensions of human personality: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Traits

Enduring personal qualities or attributes that influence behavior, thoughts, and emotions.

Achievement-Striving

A personality trait characterized by a strong desire to accomplish significant tasks and meet high standards of performance.

Self-Discipline

The ability to control one's feelings and overcome one's weaknesses; the ability to pursue what one thinks is right despite temptations to abandon it.