The Practice of Charging Different Prices to Different Consumers for the Same

question 83

Multiple Choice

The practice of charging different prices to different consumers for the same product is called _____

• A)arbitration.
• B)unit pricing.
• C)price discrimination.
• D)predatory pricing.
• E)marginal cost pricing.

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Definitions:

Sociocultural Changes

Alterations in the social and cultural aspects of a society, which can impact consumer behavior, business practices, and market trends.

Two-Income Families

Households in which both partners are employed, contributing to the family's total income and economic status.

Consumer Confidence

A measure of how optimistic consumers are about the overall state of the economy and their own personal finances.

Recession

A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.