Answer:
<em>A pricing strategy takes into account segments, ability to pay, market conditions, competitor actions, trade margins and input costs, amongst others. It is targeted at the defined customers and against competitors.</em>
Explanation:
A business can use a variety of pricing strategies when selling a product or service. To determine the most effective pricing strategy for a company, senior executives need to first identify the company's pricing position, pricing segment, pricing capability and their competitive pricing reaction strategy
Answer:
The demand for cereal is elastic.
The demand for the magazine is inelastic.
Explanation:
The price elasticity of demand is the degree of responsiveness of quantity demanded to change in price. A negative price elasticity implies that the product is a normal good.
The price elasticity of demand for cereal is −1.03. This means that the demand is price elastic. An elastic demand implies that a change in price will cause more than proportionate change in quantity demanded.
The price elasticity of demand for a particular magazine is −0.72. This means that the demand is price inelastic. An inelastic demand implies that a change in price will cause less than proportionate change in the quantity demanded.
Answer:
<u>Agence law.</u>
Explanation:
Agency law can be defined as an area of commercial law that deals with the relationship between a party that has legal authority to act in place of another, called an agent. The agent can be an individual, or some partnership or corporation. The agent deals with contractual, almost contractual and non-contractual fiduciary relationships.
The powers of the agency's law are to deal with contractual, almost contractual and non-contractual fiduciary relationships involving an agent.
