One of the most important opportunities offered by the internet is ________,where the price can easily be adjusted to meet changes in the marketplace.

Question

Quizplus · Accepted Answer

Dynamic pricing is the practice of adjusting prices in real-time based on changes in demand, supply, and other market factors. This is particularly relevant in the context of the internet, where businesses can track customer behavior, preferences, and purchase history in real-time, allowing them to set prices that are optimized for maximum profit. For example, airlines use dynamic pricing to adjust ticket prices based on factors such as booking date, route popularity, and seat availability.

One of the Most Important Opportunities Offered by the Internet