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Lyft raises ride-sharing fares when more people need rides and vice versa. This is referred to as _______.
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Lyft raises ride-sharing fares when more people need rides and vice versa. This is referred to as _______.

User Artiga
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Answer:

surge pricing

Step-by-step explanation:

Surge pricing is a marketing strategy in which the supply is manipulated according to the demand. In this strategy, the price of the rides are adjusted as per the availability of the drivers, and the demand of the rides. Also, it depends upon the time of the demanded rides. There is an increase in the price of the rides of Lyft in situation where the demand is high. Also, there is an increase in the price when the availability of the drivers is less.

User Lajnold
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