Cutting Tools Company makes and sells tools. One of Cutting's products is believed to be hazardous. The appropriate government agency may require Cutting to
a. export the tool and sell it only abroad.
b. increase the price to cover the cost of any injuries or damage.
c. reduce the price to indicate the hazard to consumers.
d. remove the tool from the market.
d
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A policyowner stops paying premiums on a whole life policy with an accidental death benefit and exchanges the policy for extended term insurance. Which of the following statements pertaining to this situation is NOT correct?
A) The policyowner will have continued protection for a limited period of time. B) There will be no accidental death benefit with the new policy. C) The term policy has no cash value. D) The term policy will have a reduced face value."
Identify the concept related to the psychological aspects of price
A) skimming price B) reference price C) prestige price D) penetration price