If a Business Decides to Reduce Its Prices Once in a While

question 175

Multiple Choice

If a business decides to reduce its prices once in a while on an unsystematic basis, it is using

• A) price reduction planning.
• B) random discounting.
• C) bait pricing.
• D) periodic discounting.
• E) penetration pricing.

---

Definitions:

Environmental Scanning

The process of collecting, analyzing, and using information about trends, events, and relationships within an organization's internal and external environment.

General Conditions

The overarching terms, situations, or factors that apply broadly across different contexts, often framing the environment in which specific actions or activities occur.

National Unemployment Rates

The percentage of the labor force that is jobless and actively seeking employment, measured across a country.

Labour Supply

The total hours that workers are willing and able to work at a given wage rate.