Dynamic Pricing

question 37

Multiple Choice

Dynamic pricing:

• A) refers to pricing that shifts over time based on conditions associated with product supply and demand.
• B) refers to pricing that is always a notch higher than competition.
• C) refers to pricing strategies that focuses on consistency even if environmental conditions fluctuate wildly.
• D) is also known as the bargaining power of customers.
• E) refers to pricing that is always a notch below competition.

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Definitions:

Relative Terms

Concepts or measurements that are dependent on or compared to another variable or context.

Prevalent

Widespread in a particular area at a certain time; commonly occurring or generally accepted.

Age 65

Commonly recognized as the traditional retirement age in many cultures and the eligibility age for senior benefits in some welfare systems.

Age 18

Represents the age at which an individual is often considered a legal adult in many countries, gaining new rights and responsibilities.