When Managers Take Advantage of an Unusual Event by Charging

question 91

Multiple Choice

When managers take advantage of an unusual event by charging prices that consumers believe are too high, they are practicing:

• A) Predatory pricing
• B) Price gouging
• C) Cost-based pricing
• D) Illegal pricing

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Definitions:

Biological Perspective

An approach in psychology focusing on understanding human and animal behavior through biological processes, including genetics, the brain, and the nervous system.

Face Validity

The extent to which a test item appears to fit the particular trait it is measuring.

Test Item

A question, task, or other assessment tool used to measure knowledge, ability, aptitude, or performance in a particular area.

Personality Traits

Enduring characteristics or tendencies that describe an individual's behavior across different situations and time.