Which one of the following is the best example of a variable cost for a business? Rent, Advertising, Insurance, Salaries
Advertising
Selling the consumer a larger portion of a product for a slightly higher price is a pricing policy called... Super sizing, Price lining, Everyday low prices, Leader pricing
Super Sizing
The formula that is used to calculate the break-even point is... Fixed costs + gross profit, Fixed costs – gross profit Fixed costs / gross profit, Fixed costs ´ gross profit
Fixed costs / gross profit
The strategy of setting a high initial price before competitors enter the market is called...
Market Skimming
Which one of the following terms describes lower production costs resulting from an increase in the number of units produced? Economy of scale, Gross profit, Break-even point, Selling point
Economy of Scale
Prices in the international market can be affected by which of the following components? Tariffs, Currency values, Transportation costs, All of the above
All of the Above
The pricing policy under which the retailer and the consumer make offers and counteroffers until an agreement is reached is called... Negotiated pricing, Combo pricing, Interest-free pricing, Psychological pricing
Negotiated Pricing
Retailers who offer the lowest average price rather than special sales follow a pricing policy called...
Everyday Low Prices
Using typical consumer behaviour to forecast pricing is called...
Psychological Pricing
The strategy of setting a low initial price for a new product or service in order to attract consumers is called...
Penetration Pricing
To calculate a break even point, a business must calculate which of the following? Variable Costs, Gross Proft, Fixed Costs, or All of the Above.
All of the Above
What is the most popular pricing strategy in the marketplace?
Competitive Pricing