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How Prices Can Be Adjusted in Response to Environmental Factors

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Carlos bought a new laptop using a store's credit card, and the store offered to reduce the laptop's price by $50 if he paid the entire bill within 6 months. This is an example of a _____ discount.

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1. Which type of discount helps to create a steady demand stream of product for the manufacturer?

2. When products are stocked on a special display at the end of an aisle, the manufacturer is probably offering a _____ discount to the retailer.

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About This Quiz & Worksheet

Companies have a variety of ways they can change their base prices. This quiz/worksheet duo will help you test your understanding of them, as well as their vocabulary and definitions.

Quiz & Worksheet Goals

In these assessments you'll be tested on the definitions of the following words:

  • Seasonal discount
  • Quantity discount
  • Rebate
  • Cash discount
  • Promotional

Skills Practiced

This quiz and worksheet allow students to test the following skills:

  • Reading comprehension- ensure that you draw the most important information from the related pricing lesson
  • Making connections - use understanding of the concept of pricing with environmental factors
  • Defining key concepts - ensure that you can accurately define types of discounts, such as seasonal and cash discounts
  • Distinguishing differences - compare and contrast topics from the lesson, such as a rebate and promotional allowance

Additional Learning

To learn more about the definitions and vocabulary of the ways companies can lower their base prices, review the corresponding lesson How Prices are Determined and Affected by Environmental Factors. The lesson will help you:

  • Understand how companies can lower their prices
  • Know the types of discounts used
  • Define quantity, cash, functional, and seasonal discount
  • Explore the use of rebates and promotional allowances
  • Discover the reason many consumers do not apply for their rebates
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