1. The process of prospective suppliers submitting sealed bids which are opened, reviewed, and evaluated at the same time is:
A. Closed bidding.
B. Open bidding.
C. Price bundling.
D. Pure bundling.
E. Yield management.

2. Two or more goods or services offered in a single package for a special price is:
A. Price bundling.
B. Multiple-use discounts.
C. Yield management.
D. Price elasticity of demand.
E. Competitive bidding.

3. The process whereby a buyer receives price bids from prospective suppliers for a specific service is:
A. Price bundling.
B. Multiple-use discounts.
C. Yield management.
D. Price elasticity of demand.
E. Competitive bidding.

4. The informal process of bidding that allows for negotiation between the supplier and the buyer is:
A. Closed bidding.
B. Open bidding.
C. Price bundling.
D. Pure bundling.
E. Yield management.

5. ___?___ is the percentage change in demand divided by the percentage change in price.
A. Competitive bidding.
B. Mixed bundling.
C. Multiple-use pricing.
D. Price elasticity of demand.
E. Probabilistic bidding model.

6. If the percentage change in demand is greater than the percentage change in price, then the service is ___?___.
A. Elastic.
B. Inelastic.

7. The mathematical procedure to determine the potential profit margin of different price alternatives in competitive bidding situations is the:
A. Multiple-use discount.
B. Open bidding process.
C. Probabilistic bidding model.
D. Pure bundling model.
E. Yield management model.

8. If the percentage change in demand is less than the percentage change in price, then the service is ___?___.
A. Elastic.
B. Inelastic.

9. Mixed bundling is two or more goods or services normally ___?___ individually combined into a single package.
A. Sold.
B. Not sold.

10. Pure bundling is two or more goods or services normally ___?___ individually combined into a single package.
A. Sold.
B. Not sold.

11. Mixed joint bundling is offering:
A. Two or more goods or services at a special price.
B. Of good or service A for a discount with the purchase of good or service B.
C. Price reductions if a customers makes multiple purchases.
D. A service at a reduced price.

12. Mixed leader bundling is offering:
A. Two or more goods or services at a special price.
B. Of good or service A for a discount with the purchase of good or service B.
C. Price reductions if a customers makes multiple purchases.
D. A service at a reduced price.

13. Value is the best combination of price, service quality, and:
A. Product.
B. Service.
C. Discount.
D. Firm image.
E. Elasticity of demand.

14. ___?___ is a differential pricing methodology designed to produce the highest revenues based on computerized analysis of the past purchase behavior of each market segment being served by a company.
A. Price bundling.
B. Multiple-use discounts.
C. Yield management.
D. Price elasticity of demand.
E. Competitive bidding.

15. Price reductions given to customers for repeat usage of a service is:
A. Price bundling.
B. Multiple-use discounts.
C. Yield management.
D. Price elasticity of demand.
E. Competitive bidding.

16. Setting the price of a service to yield the highest total revenue would be based on the organizational pricing objective of:
A. Profit maximization.
B. Sales maximization.
C. Market share maximization.
D. Competitive parity.

17. The ___?___ shows the demand for a service at various prices.
A. Organizational pricing objective.
B. Cost analysis.
C. Demand/price curve.
D. Operational position.
E. Price elasticity.

18. If the price of a service is increased by 10% and demand declines by 20%, the elasticity of demand would be:
A. -2.
B. +2.
C. -0.5.
D. +0.5.
E. -20.

19. A football team that prices tickets based on where people sit in the stadium is using differential pricing based on:
A. Time of service usage.
B. Time of reservation.
C. Time of ticket purchase.
D. Target market.
E. Location of consumption.

20. A service that offers ³5 visits for $130.00" is using a multiple-use discount based on:
A. Limited duration and limited usage.
B. Limited duration and unlimited usage.
C. Unlimited duration and limited usage.
D. Unlimited duration and unlimited usage.