Final answer:
The phrases "Limited Time Offer" and "Exclusive" help advertisers command higher prices for their products by implying scarcity and exclusivity, contrasting with terms that suggest lower quality or price. Well-respected brand names can also justify higher prices based on established trust and quality. Consumers should remain vigilant under the principle of caveat emptor.
Step-by-step explanation:
The words that allow advertisers to sell products at higher prices than their competitors who do not use these words are "Limited Time Offer" and "Exclusive". These terms convey a sense of urgency and scarcity, suggesting that the product is desirable and only available for a short period, or to a select group of consumers. In contrast, words like "Discount" and "Cheap" tend to signal lower prices, while words such as "Basic" and "Standard", or "Used" and "Refurbished", suggest lower quality or second-hand products which are typically sold at lower price points.
Advertisers have employed strategies such as creating an appeal to luxury, safety, and novelty since the nineteenth century, aiming to attract the aspiring middle class with the possibility to purchase on credit. A well-respected brand name can also command higher prices, as it represents trust and quality that has been built up over time. However, the principle of caveat emptor (let the buyer beware) still applies, reminding consumers to be cautious and discerning when encountering advertisements.