A Local True Value Hardware Store Marks Its Goods Up

question 71

Multiple Choice

A local True Value Hardware Store marks its goods up 38% on cost. If a snow blower cost True Value $400, the selling price would be:

• A)$525.00
• B)$552.00
• C)$542.00
• D)$452.00
• E)None of these

---

Definitions:

Tariff

A tax imposed by a government on goods and services imported from other countries, used to control trade volumes and protect domestic industries.

Trade

The exchange of goods, services, or both between parties, which can occur domestically or internationally.

World Price

World Price is the international price of a good, determined by global supply and demand, affecting domestic markets.

Domestic Market

The availability and need for products and services inside the boundaries of a nation.