The Term for Charging the Absolute Highest Possible Price Due

question 14

Multiple Choice

The term for charging the absolute highest possible price due to inelastic demand is

• A)price skimming.
• B)premium pricing.
• C)professional pricing.
• D)penetration pricing.

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Definitions:

Outstanding Cheques

Checks that have been written and issued but not yet cashed or cleared through the banking system.

On-line Retailing

Online Retailing is the selling of goods or services over the internet, where customers can shop from a variety of vendors at any time.

Internet Growth

The expansion and increase in usage, infrastructure, and capabilities of the internet across the world.

Collection Time

The average amount of time it takes for a business to receive payments owed by its customers after a sale has been made, indicative of a company's efficiency in collecting accounts receivable.