If a product is priced based on how many or how few people want it at a particular time and place, ____ pricing is being used.
A) markup
B) demand-based
C) competitive
D) peak
E) differential

Question

Quizplus · Accepted Answer

Demand-based pricing is based on the law of supply and demand, which states that the price of a good will increase as demand for it increases and decrease as demand for it decreases. Therefore, if a product is priced based on how many or how few people want it at a particular time and place, demand-based pricing is being used.

If a Product Is Priced Based on How Many or How