Price Setting Is Usually Determined by ________ in Small Companies

question 18

Multiple Choice

Price setting is usually determined by ________ in small companies.

• A)top management
• B)marketing departments
• C)sales departments
• D)divisional managers
• E)cross-functional teams

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Definitions:

Demand

The volume of a commodity or service that purchasers are prepared and can afford to buy across various price points within a designated timeframe.

Supply

The total amount of a good or service that is available for purchase at various prices in a given market.

Economy

A system of production, distribution, and consumption of goods and services in a particular geographic region.

Demand

Demand is an economic principle referring to a consumer's desire and willingness to pay a price for a specific good or service.