When a Person Makes a New Primary or Secondary Appraisal

question 104

Multiple Choice

When a person makes a new primary or secondary appraisal resulting from a change in the situation, they are making a

• A) primary appraisal.
• B) secondary appraisal.
• C) tertiary appraisal.
• D) reappraisal.

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Definitions:

Markup

A pricing strategy where a seller adds to the cost of the goods to determine the selling price, aimed at ensuring a profit margin above cost.

Selling Prices

The actual amount that a customer pays for a product or service, which can include discounts, promotions, and taxes.

Markup

The amount added to the cost price of goods to cover overhead and profit, determining the selling price of the product.

Selling Price

The cost at which an item is offered to buyers in the marketplace.