In 2 or 3 sentences, define price discrimination and give one example

Price discrimination refers to a business and marketing strategy in which a business charges customers differently based on what the business owner believes customers are willing to agree to. This is often done by dividing customers in groups that share common characteristics, and then charging a different price for the same product in each of these groups.

An example of this is the sale of airplane tickets. When tickets are in high demand, prices go up. On the other hand, if tickets are not selling well, these decrease. However, prices can also change based on a person's age, his loyalty to the airline or through the use of coupons. This means that people often end up paying very different prices for the same flight.

answer: b) the us is the leading importer but not the leading exporter.

extra info:

the u.s is the largest importer but it is not the largest exporter as china sits on the top of the table when it comes to leading exporters.

but u.s is not far from first,

they rank in 2nd globally as the worlds largest exporter.

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