Which of the Following Statements About Price Is True

question 45

Multiple Choice

Which of the following statements about price is true?

• A) Pricing is the least important marketing mix element.
• B) Price is always a monetary value.
• C) Price can mean exchange of nonmonetary goods or services.
• D) Most consumers believe price has little influence on their purchase decisions.
• E) Pricing is unaffected by changes in the business cycle.

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Definitions:

Interest Rate

The percentage at which interest is paid by a borrower for the use of money, or the rate earned on an investment.

Annual Benefits

Benefits or returns that are received on a yearly basis from investments, insurance policies, or employee benefit programs.

Compounded Monthly

Refers to the process of applying interest to an initial amount and any accumulated interest on a monthly basis.

Present Value

The current worth of a future sum of money or stream of cash flows given a specified rate of return.