Which of the following are examples of price in different settings? (Check all that apply.)Multiple select question.Marriott hotel room ratesrebates offered by retailersChase mortgage interestSouthwest Airline fareslottery winnings
Question
Which of the following are examples of price in different settings? (Check all that apply.)Multiple select question.Marriott hotel room ratesrebates offered by retailersChase mortgage interestSouthwest Airline fareslottery winnings
Solution
The examples of price in different settings from the options provided are:
- Marriott hotel room rates: This is a price set by the hotel for the use of their rooms.
- Chase mortgage interest: This is the price you pay for borrowing money from the bank to buy a house.
- Southwest Airline fares: This is the price you pay for a seat on a Southwest Airlines flight.
Rebates offered by retailers and lottery winnings are not examples of price. A rebate is a partial refund to someone who has paid too much money for tax, rent, or a utility. Lottery winnings are a form of prize or reward, not a price.
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