Charging Lower Prices at Certain Times to Encourage Customers to Come

question 57

Multiple Choice

Charging lower prices at certain times to encourage customers to come during slack periods is known as _____.

• A) off-peak pricing
• B) price gouging
• C) price lining
• D) odd-even pricing

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Definitions:

Buying Power

The ability of individuals or entities to purchase goods and services, often influenced by income levels, inflation rates, and economic conditions.

Lochner V. New York

A landmark U.S. Supreme Court case from 1905 that struck down a New York law limiting the working hours of bakers, setting a precedent for the limitation of state interference in private contracts.

Right To Contract

A legal principle affirming individuals' ability to freely enter into binding agreements without government interference.

Bully Pulpit

The bully pulpit refers to a powerful platform, particularly that of the U.S. presidency, used to promote an agenda and influence public opinion and policy.