An External Issue to Be Considered When Setting a Price

question 85

Multiple Choice

An external issue to be considered when setting a price is

• A)the quality of competing products or services.
• B)the quality of materials and labor.
• C)a price geared toward a minimum return on investment.
• D)the total costs of the product or service.

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Definitions:

Bearer

A person in possession of a negotiable instrument, such as a check or bond, that is payable to whomever holds it.

Drawer

In the context of banking and finance, it refers to the person who writes or issues a cheque or draft instructing the bank to pay a specified sum.

Unconditional

refers to something that is not subject to any conditions or limitations.

Express Condition

A specific and unequivocal condition in a contract that must be met for the contract's obligations to be enforced or remain in effect.