_____ Are Frequently Used as a Basis for Price Determination

question 47

Multiple Choice

_____ are frequently used as a basis for price determination largely because they are easily measured and provide a floor under which prices cannot go in the long term.

• A) Costs
• B) Corporate objectives
• C) Demand factors
• D) Competitive factors

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Definitions:

Written Contract

A legally binding agreement between two or more parties that is expressed in written form.

Army Hitch

Slang for a period of enlistment or service in the army.

Void

A legal term indicating that an agreement or contract has no legal force or effect and is unenforceable.

Consideration

In legal terms, it refers to something of value that is exchanged between parties in a contract, making the agreement legally binding.