practice of changing prices for products and services in real time in response to supply and demand conditions is referred to as __________.
A) dynamic pricing
B) virtual pricing
C) experience curve pricing
D) skimming pricing
E) elasticity pricing

Question

Quizplus · Accepted Answer

Dynamic pricing involves adjusting prices in real time based on changes in supply and demand conditions. This allows businesses to maximize profits by charging higher prices during times of high demand and lower prices during times of low demand.

Practice of Changing Prices for Products and Services in Real