{"id":87465,"date":"2025-06-01T06:44:43","date_gmt":"2025-06-01T06:44:43","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=87465"},"modified":"2025-06-01T06:44:43","modified_gmt":"2025-06-01T06:44:43","slug":"surge-pricing-takes-place-when-a-service-provider","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/surge-pricing-takes-place-when-a-service-provider\/","title":{"rendered":"Surge pricing takes place when a service provider"},"content":{"rendered":"

Surge pricing takes place when a service provider<\/p>\n

[amp_mcq option1=”raises the price of its product or service as demand outstrips supply” option2=”follows preset prices immune to demand and supply dynamics” option3=”fixes a minimum price for its services” option4=”fixes an average price on the basis of transactions carried over a day” correct=”option1″]<\/p>\n

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This question was previously asked in<\/div>\n
UPSC NDA-1 – 2017<\/div>\n<\/div>\n
Download PDF<\/a>Attempt Online<\/a><\/div>\n<\/div>\n
\nSurge pricing is a pricing strategy where the price of a product or service is dynamically increased, often significantly, when the demand for it temporarily outstrips the available supply. This aims to balance the market by either reducing demand or incentivizing more supply.
\n<\/section>\n
\nThe core concept of surge pricing is adjusting prices based on real-time fluctuations in demand and supply, with prices rising sharply during periods of high demand.
\n<\/section>\n
\nThis pricing model is commonly used in service industries, such as ride-sharing (e.g., Uber), hospitality, and event ticketing, especially during peak hours, holidays, or special events.
\n<\/section>\n","protected":false},"excerpt":{"rendered":"

Surge pricing takes place when a service provider [amp_mcq option1=”raises the price of its product or service as demand outstrips supply” option2=”follows preset prices immune to demand and supply dynamics” option3=”fixes a minimum price for its services” option4=”fixes an average price on the basis of transactions carried over a day” correct=”option1″] This question was previously … <\/p>\n

Detailed SolutionSurge pricing takes place when a service provider<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1093],"tags":[1101,1120,1386],"class_list":["post-87465","post","type-post","status-publish","format-standard","hentry","category-upsc-nda-1","tag-1101","tag-economic-development","tag-tertiary-sector","no-featured-image-padding"],"yoast_head":"\nSurge pricing takes place when a service provider<\/title>\n<meta name=\"description\" content=\"Surge pricing is a pricing strategy where the price of a product or service is dynamically increased, often significantly, when the demand for it temporarily outstrips the available supply. This aims to balance the market by either reducing demand or incentivizing more supply. 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