Final answer:
The purchase price being lower than the ticket price represents a discount. This discounted price reflects a reduced cost from the original price, commonly seen in retail sales or promotions.
Step-by-step explanation:
The scenario provided describes a situation where the ticket price of an item is discounted from $15 to $12 at the cash register. This is an example of a discount or sale. A discount is a reduction applied to the original price of goods or services. To understand the concept of discounts more clearly, let's look into some examples:
- Coolshirts, a t-shirt company, might offer a sale where their shirts, normally priced at $9 each, are sold at a discounted price.
- Calculating sales tax is another common practice in pricing. For example, an item costing $150 with a 10% sales tax would have an additional $15 added to the price for tax, making the total $165.
- In economics, the discussion about pricing may involve elasticity of demand, where a percentage drop in price could lead to an increase in quantity sold and, potentially, an increase in total revenue.
The difference between the listed price and the price at the register represents the monetary amount deducted from the original price, providing customers with savings and potentially influencing their purchasing behavior.