Your Pricing Strategy Is Described in Comparison to the Prices

question 25

True/False

Your Pricing Strategy is described in comparison to the prices of your competitors.

---

Definitions:

Market Economy

An economic system where the prices of goods and services are determined in a free price system, set by supply and demand.

Efficient

Pertaining to a system or process that operates in a way that maximizes output with minimal waste, effort, or expense.

Resources

Assets, materials, and inputs needed for the production of goods and services, including natural resources, human resources, and capital.

Society Wants

The collective desires and needs of a society or community.