According to Your Text,which of the Following Is NOT One

question 290

Multiple Choice

According to your text,which of the following is NOT one of the steps included in the six-step process for setting price?

• A)Set list or quoted price.
• B)Estimate the break-even point.
• C)Identify pricing constraints and objectives.
• D)Select an approximate price level.

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Definitions:

Barter System

An ancient method of exchange where goods and services are traded directly for other goods and services without using money.

Trade

The exchange of goods, services, or both between two or more parties, either within a country or across international borders.

Commodity Money

Anything that serves both as money and as a commodity; money that has intrinsic value such as gold or silver coins.

Double Coincidence

A situation in a barter system where two parties each hold an item the other wants, necessitating an exact match to complete an exchange.