In Terms of International Trade,BRIC Refers To

question 30

Multiple Choice

In terms of international trade,BRIC refers to:

• A)the international trade agreement that is recognized as the beginning of the age of globalization.
• B)a specialized process for moving cargo by sea.
• C)the centralization of communications technology in Middle Eastern countries.
• D)the emerging economies of Brazil,Russia,India and China.

---

Definitions:

Target Pricing

A pricing strategy where the selling price is determined based on the estimated price a consumer is willing to pay, rather than on the cost of production or the market average.

Prestige Pricing

A pricing strategy where goods are priced higher than normal to invoke perceptions of quality and exclusivity, aimed at attracting status-conscious consumers.

Cost-Plus Pricing

Summing the total unit cost of providing a product or service and adding a specific amount to the cost to arrive at a price.

Yield Management Pricing

A strategic pricing approach used in industries like airlines and hotels, where prices are adjusted in real-time based on demand, with the aim of maximizing revenue.