When Pricing a New Product, a Small Business Owner Should

question 42

Multiple Choice

When pricing a new product, a small business owner should strive to always satisfy which three objectives?

• A)Product acceptance, maintaining market share, and earning a profit.
• B)Quick acceptance, extensive distribution, and quickly recovering costs.
• C)Recovering initial development costs, recovering initial promotional costs, and discouraging competition.
• D)Discouraging competition, recovering development costs, and developing a prestige image.

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Definitions:

Federal Unemployment Tax

A tax paid by employers to fund the federal government's oversight of the state unemployment insurance programs.

State Unemployment Tax

A tax that employers are required to pay to the state, typically used to fund unemployment compensation benefits for workers who have lost their jobs.

Payroll Register

A payroll register is a comprehensive document that contains detailed information about the payroll of a company's employees, including wages, withholdings, and net pay.

Warranty

A guarantee provided by a seller to a buyer that a product will meet certain specifications or that defective products will be repaired or replaced.