Section 4
Pricing Products
Book
Version 6
By Boundless
By Boundless
Boundless Business
Business
by Boundless
2 concepts
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The Meaning of Price
Price is both the money someone charges for a good or service and what the consumer is willing to give up to receive a good or service.
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Impacts of Supply and Demand on Pricing
The supply and demand model states that the price of a good will be the level where the quantity demanded equals the quantity supplied.