When It Comes to Pricing Decisions, the Cost of the Product

question 101

True/False

When it comes to pricing decisions, the cost of the product or service is the lower limit of the price, where as the legal, political and ethical issues set the upper level of the price.

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Definitions:

Essential Attributes

Fundamental qualities or characteristics that define the nature of something, without which it would not be what it is.

Genus

A category that encompasses a collection of entities with shared traits, frequently employed in the taxonomy of biology to indicate a level higher than species but lower than family.

Differentia

The trait or characteristic that distinguishes one thing from another, especially within classification.

Circular

Referring to a shape or movement that is round in form and has no beginning or end point.