Putting Service Pricing into Practice Includes Thinking of All the Following

question 21

Multiple Choice

Putting service pricing into practice includes thinking of all the following questions EXCEPT ____________.

• A) What should be the specified basis for pricing?
• B) How much to charge?
• C) What kind of customers should be charged more?
• D) Who should collect payment?
• E) When should payment be made?

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Definitions:

Budget Line

A graphical representation showing the combination of goods a consumer can purchase with a fixed income.

Money Income

The total amount of monetary earnings or receipts a person or household receives within a given period.

Utility

In economics, the total satisfaction received from consuming a good or service.

Entrepreneur

An individual who starts, organizes, manages, and assumes the risks of a business or enterprise, often innovating and creating new products, services, or business models.