What is the term for charging different prices to different customers for essentially the same product?
A)gouging
B)price discrimination
C)skimming
D)penetration pricing

Question

Quizplus · Accepted Answer

Price discrimination is the practice of charging different prices to different customers for the same product. It is often done based on factors like location, income, age, or gender. This can be done either through price differentiation or by offering different levels of service or product features. Gouging refers to charging excessively high prices, skimming refers to setting high prices to recoup costs after introducing a new product, and penetration pricing refers to setting low prices to gain market share.

What Is the Term for Charging Different Prices to Different