Practice of Charging Different Prices to Different Buyers for Goods

question 135

Multiple Choice

practice of charging different prices to different buyers for goods of like grade and quality is referred to as

• A) horizontal price-fixing.
• B) resale price maintenance.
• C) price discrimination.
• D) predatory pricing.
• E) bait and switch pricing.

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Definitions:

Special-Interest Effect

Any political outcome in which a small group (“special interest”) gains substantially at the expense of a much larger number of persons who each individually suffers a small loss.

Government Policy

refers to the actions taken by a government to address issues or achieve goals, which may involve regulations, laws, or spending priorities.

Economic Efficiency

A situation where resources are allocated in a way that maximizes the production of goods and services.

Majority Voting

A decision-making process whereby a decision is made based on the preference of more than half of the members voting.