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Amtrak Is Considering Two Pricing Strategies for Its Service

question 26

Multiple Choice

Amtrak is considering two pricing strategies for its service. One is to price its train tickets so that it is less expensive to travel on weekends than during the week when there is heavy business travel, which illustrates _____ pricing. The second is to price its train tickets so that the further away the travel date, the greater the discount, which is best described as _____.


Definitions:

Big Five Dimension

A framework identifying five major traits that characterize human personality, which includes openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Enterprising Dimension

A personality trait aspect that focuses on the inclination towards starting and managing projects or businesses, often associated with high energy and ambition.

Work Performance

The level of effectiveness, efficiency, and quality with which an individual executes their job duties and responsibilities.

Big Five Personality

A model used in psychology to describe human personality through five broad domains: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

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