Teachers will be able to:
- Examine different pricing strategies and their intended psychological effects on customers.
- Use activities to help students understand concepts centered on consumption, choices and economies.
This video is available to view for EconEdLink members only.
In this economics webinar, explore how prices used to create a psychological impact on consumers and its ripple effects.
Let’s investigate how businesses use prices to create certain reactions in consumers, and set their products and services up to compete with each other. We will also define and examine different strategies’ effectiveness.
From looking at this from an enterprise perspective, we will be able to be better understand consumerism, and recognize how these techniques are a part of our every day lives.