Podcast
Questions and Answers
What is the psychological effect of using a dollar sign when pricing a product?
What is the psychological effect of using a dollar sign when pricing a product?
- It makes the product appear more expensive (correct)
- It makes the product appear of higher quality
- It makes the product appear more affordable
- It has no impact on the perceived price
What is the term for taking advantage of a situation to charge exceptionally high prices for products or services?
What is the term for taking advantage of a situation to charge exceptionally high prices for products or services?
- Price gouging (correct)
- Price manipulation
- Price appearance
- Price inflation
Why do prices with multiple syllables seem more expensive to consumers?
Why do prices with multiple syllables seem more expensive to consumers?
- Because they take longer to read and pronounce (correct)
- Because they are more often used in online shopping
- Because they are more difficult to calculate
- Because they are more common in advertising
In which state was the first price gouging law enacted in 1978?
In which state was the first price gouging law enacted in 1978?
What is the main reason why price gouging laws are enacted?
What is the main reason why price gouging laws are enacted?
What is an example of a recent situation where price gouging was a potential concern?
What is an example of a recent situation where price gouging was a potential concern?
What type of products are currently listed as items that cannot be hoarded or subject to price gouging due to COVID-19 precautions?
What type of products are currently listed as items that cannot be hoarded or subject to price gouging due to COVID-19 precautions?
What is the purpose of posting lists of items that cannot be subject to price gouging?
What is the purpose of posting lists of items that cannot be subject to price gouging?
Why do consumers perceive prices with more syllables as more expensive?
Why do consumers perceive prices with more syllables as more expensive?
What is the outcome of price gouging during emergencies?
What is the outcome of price gouging during emergencies?
