All of the Following Are Psychological Techniques Except

question 110

Multiple Choice

All of the following are psychological techniques except

• A) customary pricing.
• B) prestige pricing.
• C) reference pricing.
• D) odd-even pricing.
• E) price skimming.

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Definitions:

Insurance

A financial product offering protection against a loss, providing compensation in the event of specific financial damages or risks occurring.

Adverse Selection

A situation where asymmetric information results in high-risk individuals being more likely to purchase insurance or contracts than low-risk ones.

Auto Transmission

An automatic transmission is a type of motor vehicle transmission that can automatically change gear ratios as the vehicle moves, freeing the driver from having to manually shift gears.

Moral Hazard

The situation where one party engages in risky behavior knowing that it is protected against the consequences of that behavior, often because another party will bear those consequences.