The Practice of Setting Price by Increasing the Average Costs

question 38

Multiple Choice

The practice of setting price by increasing the average costs of production by some percentage is referred to as:

• A)average cost pricing.
• B)percentage pricing.
• C)rate-of-return pricing.
• D)markup pricing.

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Definitions:

Performance Accountability

The process of holding individuals or groups responsible for achieving specific outcomes or performance targets.

Customer Service

The assistance and support provided by a company to its customers before, during, and after a purchase, aiming to improve their satisfaction and loyalty.

Strategic Issues

Important questions or challenges that affect an organization's direction, vital objectives, and strategies.

Functional Group

A collection of individuals grouped based on their specific role, expertise, or function within an organization, aiming to accomplish designated tasks.