The Price of an Item Should Be

question 120

Multiple Choice

The price of an item should be

• A) based exclusively on break-even analysis.
• B) less than what the competition is charging.
• C) based on what purchasers are willing to pay.
• D) total costs plus a margin of profit.

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Definitions:

Digital

Pertaining to data represented or stored in a binary format for processing by electronic devices.

Analog

Waves that illustrate the loudness of a sound or the brightness of the colors in an image at a given moment in time.

CCD

Stands for Charge-Coupled Device, a type of image sensor used in digital cameras and other imaging devices to capture light and convert it into digital data.

Codec

A rule, implemented in either software or hardware, which squeezes a given amount of audio and video information into less space.