All of the Following Are True About the Price Element

question 215

Multiple Choice

All of the following are true about the price element of services EXCEPT:

• A)price can be referred to in a variety of terms.
• B)price can affect consumer perceptions of the service.
• C)price is used in on-peak pricing to manage the variations in supply for the service.
• D)price can be used in capacity management.
• E)price can be used in services to imply a higher quality.

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Definitions:

Regulatory Environment

The collection of laws, regulations, and rules that govern and influence the conduct of businesses and individuals within a society.

Consumer Protection

Measures and regulations to ensure the rights and safety of consumers are safeguarded.

Fair Competition

An economic condition in which businesses operate on a level playing field, with no unfair advantages, allowing for healthy competition in the market.

Gender Roles

Social and cultural expectations associated with a person's sex, influencing behaviors, interests, and personal values.