Which of the Following Statements Is True of Pricing Strategy

question 16

Multiple Choice

Which of the following statements is true of pricing strategy?

• A) Small businesses should have smaller prices too.
• B) Most consumers decide on a product using price as the number one factor.
• C) An entrepreneur's first goal in pricing is to set the price as high as they think they can.
• D) Avoid sale prices as they lead to price wars.

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Definitions:

Attractive Jobs

Employment positions deemed desirable due to factors like high pay, job security, career growth opportunities, and positive work-life balance.

Perfectly Mobile

Refers to resources or labor that can move without restriction or barriers between areas to find employment or investment opportunities.

Output Per Worker

The amount of goods or services produced divided by the number of employees, a measure of labor productivity.

Physical Capital

The tangible assets such as buildings, machinery, and equipment used in the production of goods and services.