The time it takes to deliver a product or service after an order is placed is called the:

		cycle time.
		process time.
		customer response time.
		production time

When increases or decreases in price affect the demand for a product, the product is described as being:

		competitive.
		elastic.
		inelastic.
		predatory

The demand for products whereby price increases or decreases have little effect on the demand for such products is often described as being:

		elastic.
		inelastic.
		sensitive.
		responsive

When a company prices a new product at an extremely low price, often below cost, for the purpose of injuring or eliminating competitors, they are most likely using:

		target pricing.
		price skimming.
		predatory pricing.
		penetration pricing