An Algorithm Is A(n)

question 176

Multiple Choice

An algorithm is a(n)

• A) simple thinking strategy for making decisions quickly and efficiently.
• B) testing method involving trial and error.
• C) automatic,intuitive judgment.
• D) methodical step-by-step procedure that guarantees a solution to a problem.

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Definitions:

Odd Pricing

A pricing strategy that sets prices at odd numbers just below round numbers to make them appear smaller and more appealing to buyers.

Cost-Based Pricing

Formulas that calculate total costs per unit and then add markups to cover overhead costs and generate profits.

Personal Selling

A direct form of marketing that involves a salesperson presenting the benefits of a product directly to a customer in order to make a sale.