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What is deciding the selling price of a product called?

Answer and explanation

Correct answer: Pricing

Pricing is the process of deciding how much customers will pay for a product or service. The decision may consider production cost, customer demand, competition, quality, and the desired margin. Production means making the item, distribution means moving it to customers, and recruitment means hiring people, so none of those terms names price setting.

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PricingSelling PriceBusinessIntroduction To EntrepreneurshipEntrepreneurial Skills IArtificial IntelligenceClass 9 Mcq

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