Question 33 (2 points)
Identify and explain four unfair pricing practices.
Any four of the following: bait and switch, price fixing, price discrimination, deceptive pricing, and predatory pricing. Bait and switch is the practice of
advertising one product with the intent of persuading customers to buy a more expensive item when they arrive in the store. Price fixing is when a
group of competitors get together and set the price for a specific product, which is usually high. Price discrimination occurs when a company sells the
same product to different customers at different prices based on personal characteristics of the customers. Deceptive pricing is the illegal pricing of
products in a way that intentionally
customers. Predatory pricing is the practice of setting very
prices to remove
competition.
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