A Jewelry Store Advertises a One-Carat Diamond Engagement Ring as Being

question 116

Multiple Choice

A jewelry store advertises a one-carat diamond engagement ring as being discounted 50 percent off the original price of $10,000, for a sale price of $5,000. However, the ring was never put on sale at the original price, and its actual cost to the retailer was only $1,500. This jewelry store could be accused of using:

• A) Price fixing.
• B) Phony list prices.
• C) Dumping.
• D) Price discrimination.
• E) Unfair trade practices.

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Definitions:

Bias

A tendency to lean in a certain direction, often to the detriment of an open mind; prejudice.

Extreme Language

The use of exaggerated, intense, or absolute terms in communication.

Personal Beliefs

Individual convictions or acceptances that something exists or is true, especially without proof.

Political Agendas

The set of underlying motivations or goals that guide the actions and policies of political figures or parties.