Question

Jason felt the restaurant was too expensive for his taste as soon as he looked at the menu posted on the outside wall by the entrance and saw the price of a burger was $10. a product used in this way is known as a(n)__________ item.

Answer 1

A product used in this way is known as a Benchmark Item.
Benchmark item refers to the type of product that is used as a standard when we want to compare it another similar product.
By seeing the price of Burger in this particular situation, Jason could predict the price of other product that being sold in that place.