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In-s [12.5K]
3 years ago
6

A price ceiling

Social Studies
1 answer:
Alla [95]3 years ago
5 0

Answer:

The correct answer is C.

Explanation:

A price ceiling is an economics term that refers to a type of price control where a limit is set on how high the price of a good or service can be. Price ceilings are mostly imposed by the government, usually during times of crisis, in order to protect consumers from having to pay extraordinary amounts for certain commodities.

Price ceilings are often frowned upon by economists for their tendency to create shortages. This is because when there's a price ceiling, producers are discouraged as they can feel the price does not match the price the goods should be sold for in a free market, so it's not profitable for them to produce them. Also, shortages are created because sellers tend to hoard goods and sell them on the black market for a higher price. <u>For these two reasons, a price ceiling does not increase the amount of the product that consumers buy because it creates a shortage.</u>

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Answer:

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Explanation:

The topic of marketing, and especially of being able to reach the appropriate people in order to effectively and efficiently sell goods and services, is not a small one, especially because it ensures the success of any company. Because it is impossible for one company to serve all the needs and wants of society, and buyers are so different, and have so many varying qualities, it would be a titanical and impossible job, to try and comply with all of them. Even if a company has reached a level of specialty in the services, and/or goods they offer, there is simply too much to choose from when thinking about who to approach in order to sell. One approach therefore that has proven highly valuable in helping a company reach its selling goals is segmentation. In the case of this question, product-related segmentation, because this approach allows a company to focus its efforts, products and services, on the different groups of people that they know their products will benefit the most, and offer these products in such a way that surpass similar products offered by the competition. This approach targets customers who are keen on weighing products and selecting one given the benefits it will bring to them, and helps a company shape its products to meet the standards of the customer above those offered by the competition.

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