Tag: social science

• Rainwater harvesting is the collection and storage of rainwater for reuse on-site, rather than allowing it to run off. 
•  These stored waters are used for various purposes such as gardening, irrigation, etc.
  
• Broadly there are two ways of harvesting rainwater. They are Surface runoff harvesting and Rooftop rainwater harvesting.
  
• Hence Rooftop and runoff are the types of rainwater harvesting methods.
• So, the correct answer is 'Both A and B'.

In an aquatic food chain, tertiary consumers are predators that feed on secondary consumers. In a pond ecosystem, big fish typically occupy this position, feeding on smaller fish.

Condensation is the process where water vapor turns into liquid water. As water vapor condenses into droplets in the atmosphere, it often collects dust and other atmospheric particles, resulting in impurities.

A price index number measures the relative change in the price of a basket of goods between a current year and a base year, expressed as a percentage.

The Consumer Price Index (CPI) is specifically designed to measure the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

Value-based price is a pricing strategy which sets prices primarily, but not exclusively, according to the perceived or estimated value of a product or service to the customer rather than according to the cost of the product or historical prices.

If customers after bergain find out the offered price of a product is more than what it is originally, that means the customer needs to give a higher price for their satisfaction. In such a case, the opportunity cost of the product is more than expected. o customers will prefer not buy such products.

A price ceiling is a government-imposed price control or limit on how high a price is charged for a product. Governments intend price ceilings to protect consumers from conditions that could make commodities prohibitively expensive. Such conditions can occur during periods of high inflation or in monopolistic markets.

If any company sets the price of its product or service too high, in the sense it is higher than others, even if they aren't compromising on other factors such as quality etc, the company will face low sales and low markup by the consumers. That is because the consumers will tend to buy from ones who have lesser prices at the best opportunity cost of other factors.

Value based pricing is the strategy which sets prices primarily, but not exclusively, according to the perceived or estimated value of a product or service to the customer rather than according to the cost of the product or its historical prices. So once the customer needs are found out and a target price is set, the incurred costs behind those products need to be found out.