What should be considered while pricing a handicraft product?

Correct answer: Cost of raw materials, labour cost and reasonable profit

While pricing a handicraft product, the cost of raw materials, the artisan's labour cost, and a reasonable profit should be included. This ensures that the price recovers the cost and provides fair earnings to the seller. Factors such as the customer's age may be useful in marketing, but cannot alone determine the price. Exam tip: remember pricing as cost + labour + profit.