The Pricing Method That Is Used Primarily by Service Businesses

question 28

Multiple Choice

The pricing method that is used primarily by service businesses is

• A)return on assets pricing.
• B)gross margin pricing.
• C)target cost pricing.
• D)time and materials pricing.

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Definitions:

Hierarchy of Needs

A theory in psychology proposed by Abraham Maslow, suggesting that people are motivated by five basic categories of needs: physiological, safety, love/belonging, esteem, and self-actualization, which must be fulfilled sequentially.

Biological Needs

Basic requirements for human survival, such as food, water, shelter, and oxygen.

Social Needs

Fundamental human requirements for belonging, affection, acceptance, and companionship, which are essential for psychological well-being.

Anorexia Nervosa

A psychological and possibly life-threatening eating disorder characterized by an extreme fear of weight gain and a distorted perception of one's body weight or shape.