A Fair Price

question 9

Multiple Choice

A fair price:

• A)is the lowest price that ensures a continuous supply of the proper quality where and when needed and at which the supplier makes a reasonable profit.
• B)is based on market conditions,and cost structure has no bearing on the determination of a fair price.
• C)is based on the cost to produce an item or service without consideration for the supplier's profit margin.
• D)is an amount arrived at through negotiations where the seller's price is a starting point.
• E)is when all sellers of equal goods or services receive the same per unit price.

---

Definitions:

Gymnosperms

Seed-producing plants such as conifers that do not have flowers or fruit, with seeds often exposed or on the surface of scales or leaves.

Bryophytes

Non-vascular plants that include mosses, liverworts, and hornworts, characterized by their life cycle stages and lack of vascular tissue.

Ferns

A group of non-flowering plants that reproduce via spores and have large, divided leaves known as fronds.

Flowering Plants

Plants that produce flowers as their reproductive structures; this group is also known as angiosperms.