Small Business Owners Get into Trouble When Determining Their Price

question 46

Multiple Choice

Small business owners get into trouble when determining their price floor when they:

• A)focus on what the customer will pay.
• B)assume their costs are the same as their competitors'.
• C)begin to track financial ratios to determine what they are doing.
• D)use the price floor as the minimum price in their acceptable price range.

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Definitions:

Body Sounds

The sounds made by the various parts of the body, such as the heart, lungs, and stomach, which can be indicative of health or disease.

Otoscope

A medical device used to look into the ears.

Ophthalmoscope

An instrument used by doctors to examine the interior of the eye, including the retina and optic nerve.

Stethoscope

A medical instrument used for listening to the sounds generated within the body, particularly the heart and lungs.