What is prestige pricing? Under what circumstances should a company consider using prestige pricing?
What will be an ideal response?
Answers will vary.
A company that uses prestige pricing sets a high selling price for its product. Such a sales price might succeed if a product has a prestigious brand name and has been in the news recently. As customer interest fades, the company will need to consider lowering its selling price.
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Suppose a country has a population of 61 million, of which 37 million are in the working-age population. Of those, 11 million are not in the labor force and 23 million are employed. The labor-force participation rate is
A. 42.6 percent. B. 60.7 percent. C. 70.3 percent. D. 88.5 percent.
You should eliminate distractions by not eating, drinking, chewing gum, talking to others, or handling other tasks while on the phone with a customer.
Answer the following statement true (T) or false (F)
Which of the following is considered by accountants to be a separate entity from its owner(s)?
a. Partnership only b. Sole proprietorship only c. Corporation only d. Sole proprietorship, partnership, and corporation
Troy is a handsome well-liked manager at the local hardware store. He typically will work late so that he does not have to make one of his employees stay late and he supports his staff. Troy is seen as fair and good at handling customer disputes. Troy is a good example of having which type of power?
A. referent power B. expert power C. reward power D. legitimate power