Examlex
A measure of the responsiveness of demand for a product to changes in price is known as
Preferred Customer
A customer who receives special benefits or discounts due to their status or purchasing history with a company.
Gross Profit
The difference between revenue and the cost of goods sold before deducting overhead, payroll, taxation, and interest payments.
Mark-up
The sum added onto the goods' cost price to account for overhead expenses and profit, which establishes the selling price.
Clearance Sale
A sale event where products are offered at significantly reduced prices to clear out inventory.
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