Expenses
What Expense is changed based on the activities of the business?
A. Variable Expense
B. Fixed Expense
C. Periodic Expense
D. Discretionary Expenses
A. Variable Expense
Selling price may also called:
A. Retail Price
B. List Price
C. Unit Price
D. Market Price
D. Market Price
A product demand in which the percent change in demand is greater than the percent change in price:
A. Joint Demand
B. Inelastic Demand
C. Elastic Demand
D. Direct Demand
C. Elastic Demand
Practice of advertising one product with the Intent of persuading a customer to buy a more expensive item when they arrive in the store:
A. Price Discrimination
B. Predatory Pricing
C. Deceptive Pricing
D. Bait and Switch
D. Bait and Switch
Those that do not change and are not affected by the number of products produced or sold is called:
A. Discretionary Expenses
B. Fixed Expense
C. Periodic Expense
D. Operating Expense
B. Fixed Expense
The price recommended by the manufacturer. Mainly associated with car pricing:
A.MSRP
B. List price
C. Unit pricing
D. Selling price
A. MSRP
The product of the demand that is not affected by the price:
A. Direct Demand
B. Inelastic Demand
C. Composite Demand
D. Derived Demand
B. Inelastic Demand
A group of competitors get together and set the price for a specific product, which is usually high is called :
A. False advertising
B. Price Fixing
C. Drip Pricing
D. Predatory price
B. Price fixing
Variable expense includes:
A. Property taxes, auto repairs
B. Dining out, vacations trips
C. Advertising fees, office supplies, utilities
D. Insurance
C. Advertising fees, office supplies, utilities
The _____ price is the actual price paid for a product, after any discounts or coupons deducted:
A. List
B. Premium
C. Selling
D. Skimming
C. Selling
This is the demand for a good or service by a single consumer.
A. Direct Demand
B. Joint Demand
C. Individual Demand
D. Composite Demand
C. Individual Demand
Setting low prices to remove competition, such as foreign companies that price their products below the same domestic ones to drive the domestic companies out of the business.
A. Predatory Pricing
B. Price discrimination
C. Deceptive Pricing
D. False Advertising
A. Predatory Pricing
Fixed expense Include:
A. Property taxes, auto repairs
B. Dining out, vacations trips
C. Advertising fees, office supplies, utilities
D. Insurance
D. Insurance
...allows customers to compare prices based on a standard unit of measure, such as an ounce or pound:
A. Selling Price
B. Dynamic Pricing
C. List Price
D. Unit Price
D. Unit Price
Type of demand that a single product can be used for various purposes:
A. Direct Demand
B. Joint Demand
C. Market Demand
D. Composite Demand
D. Composite Demand
Pricing products in a way to intentionally mislead a customer is called:
A. False Advertising
B. Price Discrimination
C. Deceptive Pricing
D. Drip Pricing
C. Deceptive Pricing