What Is a Competitive Market

question 4

Multiple Choice

What is a competitive market?

• A) a market in which goods can be bought at the ask price and sold at bid price
• B) a market in which a good can be bought and sold at the same price
• C) a market in which a good is bought for a lower price than that for which it can be sold
• D) a market in which a good is sold at a lower price than that for which it can be bought

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Definitions:

Sales Volume

The total quantity of goods or services sold by a company within a specific period.

Target Return-on-sales Pricing

A pricing strategy aiming to achieve a specific return on sales, calculated by setting prices based on the desired profit margin over costs.

Target Return-on-investment Pricing

A pricing strategy that sets the price point based on a projected or desired return on investment.

Sales Volume

The total number of units sold within a specific time frame, indicating the overall performance of a product or business.