The Two Basic Approaches to Price Setting Are ______

question 199

Multiple Choice

The two basic approaches to price setting are ______.

• A) supply-oriented and demand-oriented price setting
• B) cost-oriented and demand-oriented price setting
• C) sales-oriented and profit-oriented price setting
• D) cost-oriented and profit-oriented price setting
• E) average-cost pricing and break-even analysis

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Definitions:

Volume of Business

The total amount of trade or transactions conducted by a company over a specified period, often measured in sales or units sold.

Attractive Location

pertains to a site or place with qualities that are appealing to businesses, investors, or residents, often due to factors like economic opportunities, natural beauty, or favorable conditions.

Composite Score

An overall score derived from combining several individual scores, often used in assessments or evaluations.

Public Transit

A system of various transport modes such as buses and trains operated by a city or region to provide a shared travel service to the public.