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Questions and Answers
What is shrinkflation?
What is shrinkflation?
- When companies reduce the quality of a product while keeping the price the same.
- When companies reduce the size or quantity of a product while keeping the price the same. (correct)
- When companies increase the size of a product while reducing the price.
- When companies change the shape of a product to make it more appealing.
How is skimpflation different from shrinkflation?
How is skimpflation different from shrinkflation?
- Skimpflation involves reducing the size of a product while increasing the price.
- Shrinkflation involves reducing the quality of a product while keeping the price the same. (correct)
- Skimpflation involves increasing the quality of a product while lowering the price.
- Shrinkflation involves increasing the size of a product while lowering the price.
Why do companies engage in shrinkflation?
Why do companies engage in shrinkflation?
- To reduce the size or quantity of a product while keeping the price the same. (correct)
- To increase the quality of the product.
- To decrease the price of the product.
- To reduce included services in the product.
Which strategy involves including more air in a package to hide changes from consumers?
Which strategy involves including more air in a package to hide changes from consumers?
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What might a hotel do if it is practicing skimpflation?
What might a hotel do if it is practicing skimpflation?
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