A ________ is any price that a consumer uses as a basis for comparison in judging another price.
A) tensile
B) objective
C) discount
D) reference
E) superficial

Question

Quizplus · Accepted Answer

A reference price is a price point that a consumer uses as a comparison to evaluate the fairness of another price. It could be the price the consumer paid for the same product in the past, the price of a competing product, or the advertised price of the same or similar product in other stores.

A ________ Is Any Price That a Consumer Uses as a Basis