Yield Management Is the Practice of

question 221

Multiple Choice

Yield management is the practice of

• A)determining production functions to minimize production costs.
• B)forecasting competitors' responses to price changes.
• C)using buyer data to rapidly adjust prices.
• D)using information technology to find the best interest rate.

---

Definitions:

Sherman Antitrust Act

A foundational United States antitrust law aimed at maintaining market competition by preventing monopolies.

Monopolies

Market structures where a single seller dominates the market, facing no competition and controlling prices.

Standard Oil Company

A U.S. company founded by John D. Rockefeller in 1870, which became a dominant force in the American petroleum industry until it was broken up by the U.S. Supreme Court in 1911 due to antitrust laws.

John D. Rockefeller

An American industrialist and philanthropist who was a co-founder of the Standard Oil Company and became one of the world's wealthiest individuals and major philanthropists.