Multiple choice question.
When demand for a service increases, more services are made available.
When demand for a service decreases, prices go up.
When demand for a service increases, prices go up.
When demand for a service decreases, more services are made available.
1 answer
The correct answer is:
When demand for a service increases, prices go up.
Surge pricing is a pricing strategy commonly used in the service industry, particularly in industries like ridesharing or hospitality, where prices increase when demand is high.
