Prices that change based on supply and demand relationships at any given time best defines
A) dynamic pricing.
B) commodity pricing.
C) pre-shopping.
D) negotiation.

Question

Quizplus · Accepted Answer

Dynamic pricing refers to the practice of adjusting prices based on current supply and demand conditions. This can result in prices fluctuating in real time, such as in the case of surge pricing for ride-sharing services or ticket prices for concerts or sports events. Commodity pricing refers to pricing based on the cost of inputs or materials used to produce a good, while pre-shopping and negotiation are not directly related to supply and demand pricing dynamics.

Prices That Change Based on Supply and Demand Relationships at Any