When a Business Such as an Airline Charges Different Prices

question 4

Multiple Choice

When a business such as an airline charges different prices for different people for the same product,they are practicing

• A)an illegal price policy.
• B)price discrimination.
• C)non-price competition.
• D)a marketing policy which usually backfires.

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Definitions:

Entrepreneurial Venture

A startup or a new business established by an entrepreneur with the aim of seeking innovation, growth, and profit.

Minority-owned SMEs

Small and medium-sized enterprises that are owned and controlled by individuals from minority ethnic or racial groups.

Service-based Industry

An industry that focuses on providing services rather than producing physical goods, examples include healthcare, education, and information technology services.

High Degree

A level of academic achievement or qualification, typically beyond the undergraduate level, such as a master's or doctoral degree, indicating advanced knowledge or specialization.