Match Each Word or Phrase That Follows with the Term

question 33

Short Answer

Match each word or phrase that follows with the term (a-e) it describes.
-Sets the price based on product demand
A)Demand-based method
B)Competition-based method
C)Product cost method
D)Target costing method
E)Production bottleneck

• A)Demand-based method
• B)Competition-based method
• C)Product cost method
• D)Target costing method
• E)Production bottleneck

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Definitions:

Normal Good

A normal good is a type of good for which demand increases when income increases, and falls when income decreases but price remains constant.

Domestic Price

The cost of products or services inside the confines of a nation, in contrast to prices for international trade or exports.

Trade Price

The price at which goods or services are actually bought and sold between parties in the marketplace.

Leather Wallets

Small, foldable cases, often made of leather, used for carrying personal items such as cash, credit cards, and identification documents.