The Key to Setting a Final Price for a Product

question 269

Multiple Choice

The key to setting a final price for a product is finding an approximate price level to use as a reasonable starting point. Which of the following is one of four common approaches to selecting an approximate price level?

• A) competition-oriented
• B) cause-oriented
• C) revenue-oriented
• D) stakeholder-oriented
• E) distribution-oriented

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Definitions:

Digestion

The biological process by which the body breaks down food into smaller components that can be absorbed into the bloodstream for use by the body.

Large Intestine

The final section of the digestive system, responsible for water absorption and formation of feces.

Chyme

The semifluid mass of partly digested food that moves from the stomach to the small intestine.

Feces

Waste matter discharged from the bowels after food has been digested, consisting of remains of ingested food, bacteria, and dead cells.