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Chapter 5 Vocabulary

Across
A pricing strategy in which the company sets the selling price high in an attempt to appeal to those who want to have the newest model, etc.
The full amount an employee earns
The percentage the bonus will pay
Market has a large influence on selling price and the individual company must distinguish itself through quality, service, or functionality
A pricing strategy where the company attempt to set a selling price for the life of the product
A discount based on the amount purchased
A fringe benefit contingent on a future event
Number of days from the time an order is placed until the order is received
Employee's take-home pay
When a group of companies agree to limit supply and charge identical prices
An environment where few firms control the market
Down
The opportunity cost of not having inventory on hand when needed
An additional amount over cost that is added to determine selling price
The market sets the selling price and the companies are the price takers
A small amount of inventory kept on hand to avoid stock-outs
Selling price less cost
Payment based on number of hours worked
The inventory level that when reached, indicates the need to place an order
A pricing strategy where a company sets its initial selling price low in an attempt to gain a share of the market from its competitors
Payment for services rendered based on quantity completed
Payment based on a fixed amount per pay period
The practice of selling below cost and then raising prices
A company that has exclusive control over a product, service, or market
The amount of inventory needed each business day
Selling products below cost