Demand is labeled as _________ when a large change in price produces only a small change in demand.

Multiple Choice

• flexible

• consistent

• inelastic

• elastic

• dynamic

• Jenna works for an energy company in Houston. Her company plans to develop operations overseas, and she is determining the role of publicity in that market. She knows that publicity plays a major role in the U.S., but she isnt sure if this is also true overseas. Jenna is concerned with the _________ strategy of her company.

  Multiple Choice

• pricing

• production

• product

• distribution

• communication

• Health Born Cereal Corp. wants to build its global sales volume quickly. It enters all markets at the lowest price possible it can charge, which undercuts the prices of all its competition. The company knows this might result in initial losses, but in a few years, it should be making substantial profits with a cost advantage over everyone else. This is an example of

• Multiple Choice

• experience curve pricing.

• multipoint pricing.

• market-based pricing.

• dynamic pricing.

• price skimming.

• Marina is on vacation in Jamaica and buys a bottle of rum for about half the price she would pay for the same bottle at home. The rum isnt on sale in Jamaica but is priced lower because thats the price the market will bear. What is this an example of?

  Multiple Choice

• Multiple Choice

• price discrimination

• price skimming

• predatory pricing

• premium pricing

• price fixing