Unit 5- Price
Quiz by jessie tay
Feel free to use or edit a copy
includes Teacher and Student dashboards
Measure skillsfrom any curriculum
Measure skills
from any curriculum
Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.
With a free account, teachers can
- edit the questions
- save a copy for later
- start a class game
- automatically assign follow-up activities based on students’ scores
- assign as homework
- share a link with colleagues
- print as a bubble sheet
10 questions
Show answers
- Q1This pricing strategy avoids round numbers and oftens end in odd numbers.Penetration PricingPremium PricingProduct Bundle PricingPsychological pricing30s
- Q2This pricing strategy is used for luxury products which have competitive advantage over its competitors.Penetration pricingPremium pricingDemand pricingPsychological Pricing30s
- Q3This strategy is used by an airline which combines accommodation , flight tickets and meals and sell at a value deal.Demand pricingPsychological pricingPenetration pricingProduct Bundle Pricing30s
- Q4This strategy is based on how much the customer's needs and willingness to pay for a product.Psychological pricingDemand pricingProduct Bundle pricingPenetration pricing30s
- Q5This strategy is used during the launch of a new product. Company would like to gain a part of the market share.Premium pricingPsychological pricingPenetration pricingDemand pricing30s
- Q6Fixed costs are costs that do not vary with volumes of sales. Examples of fixed costs in a hotel arefood and beveragesfull time staff salariesguest room amenitiespart-time staff salaries30s
- Q7Break-even point meansTotal Revenue> Total CostsTotal Revenue= Total CostTotal Revenue- Total CostsTotal Profits= Total Costs30s
- Q8Raffles hotel needs to differentiate its product from its many competitors. It is operating inpure competitionpure monopolymonopolistic competitionoligopolistic competition30s
- Q9Singapore Airlines and ANA fly to japan. When SIA decreases its price, ANA also decreases its price to attract more customers. This is an example ofperfect competitionpure monopolymonopolistic competitionoligopolistic competition30s
- Q10ABC travel agency combines several of its products and sell at a cheaper price during the off-peak period. This is an example ofpremium pricingpsychological pricingdemand pricingproduct bundle pricing30s