2015 · Q81
What is meant by price discrimination?
General KnowledgeIndian Economy
- AIncrease in price of a commodity over time
- BA situation where the same product is sold to different consumers for different prices
- CSubsidization of a product by the Government to sell it at a lower price
- DGeneral decrease in price of a commodity over time
Explanation
Price discrimination means charging different prices for the same product to different consumers — e.g., student discounts or airline fare classes for identical seats. It has nothing to do with prices changing over time or with government subsidies. Hence B.