Which of the following is a characteristic of 'Algorithmic Pricing'?
A. Only cost-plus pricing without data
B. Only manual price setting by humans
C. Prices that never change
D. The use of algorithms to set prices automatically, potentially leading to tacit collusion or rapid price adjustment
Answer: Option D
Solution (By JKSSB Mock Tests)
Algorithmic pricing employs software algorithms that automatically adjust prices in response to demand, competitor prices and other data; under certain conditions it can facilitate tacit collusion or increase price volatility.
Explanation:
Human capital comprises the knowledge, skills, health and other attributes of individuals that affect their productivity and are accumulated through education, training and health expenditure.
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