Selling the Same Goods to Different Targeted Groups at Different

question 17

Multiple Choice

Selling the same goods to different targeted groups at different prices is called:

• A)cost customization.
• B)cost optimization.
• C)price gouging.
• D)cost personalization.
• E)price discrimination.

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Definitions:

Unconscionability

A contract term that is so unjust or overwhelmingly one-sided in favor of the party who has the superior bargaining power.

Contract Negotiating Procedures

The systematic steps and methods used during the process of reaching an agreement on contractual terms.

Auction With Reserve

A type of auction in which the seller reserves the right to accept or reject the highest bid.

Auction Without Reserve

An auction in which the item for sale will be sold regardless of the price, as there is no minimum bid or reserve price.