GB 350 CASCIO FINAL EXAM
COMPREHENSIVE TEST SCRIPT 2026
SOLUTIONS VERIFIED
◉ elastic demand. Answer: if revenues increase, prices go down
◉ inelastic demand. Answer: a situation in which an increase or
decrease in price will not significantly affect demand for the product
◉ inelastic demand. Answer: prices go up, revenues go up
◉ dynamic pricing. Answer: adjusts prices to balance changes in
demand, supply, and competitor pricing actions
◉ dynamic pricing. Answer: allows sellers to price in a competitive
manner
◉ - stimulate purchase when demand is low and supply is high
- maximize profits when demand is high and supply is low
- match or beat competitor prices. Answer: the goals of dynamic
pricing:
, ◉ surge pricing. Answer: version of dynamic pricing in a fluid
market, where demand changes rapidly, to capitalize on peak
demand
◉ - higher than usual price on ubers after a football game or concert
in applicable cities
- hotel room prices surging when popular artist announces show in
the area/surrounding areas. Answer: examples of surge pricing:
◉ fixed costs. Answer: do not change with the amount of
product/service produced
◉ fixed costs in a business. Answer: a mortgage, lease, equipment
rental, salaried employees, and software subscriptions are examples
of:
◉ variable costs. Answer: increase with each additional
product/service produced
◉ variable costs in a business. Answer: raw materials, ingredients,
components, packaging, and shipping materials/costs are all
examples of:
◉ break-even price. Answer: minimum product price at certain
volume of sales required to begin making a profit
COMPREHENSIVE TEST SCRIPT 2026
SOLUTIONS VERIFIED
◉ elastic demand. Answer: if revenues increase, prices go down
◉ inelastic demand. Answer: a situation in which an increase or
decrease in price will not significantly affect demand for the product
◉ inelastic demand. Answer: prices go up, revenues go up
◉ dynamic pricing. Answer: adjusts prices to balance changes in
demand, supply, and competitor pricing actions
◉ dynamic pricing. Answer: allows sellers to price in a competitive
manner
◉ - stimulate purchase when demand is low and supply is high
- maximize profits when demand is high and supply is low
- match or beat competitor prices. Answer: the goals of dynamic
pricing:
, ◉ surge pricing. Answer: version of dynamic pricing in a fluid
market, where demand changes rapidly, to capitalize on peak
demand
◉ - higher than usual price on ubers after a football game or concert
in applicable cities
- hotel room prices surging when popular artist announces show in
the area/surrounding areas. Answer: examples of surge pricing:
◉ fixed costs. Answer: do not change with the amount of
product/service produced
◉ fixed costs in a business. Answer: a mortgage, lease, equipment
rental, salaried employees, and software subscriptions are examples
of:
◉ variable costs. Answer: increase with each additional
product/service produced
◉ variable costs in a business. Answer: raw materials, ingredients,
components, packaging, and shipping materials/costs are all
examples of:
◉ break-even price. Answer: minimum product price at certain
volume of sales required to begin making a profit
