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Setting the price of a product is related to which function?

Answer and explanation

Correct answer: Pricing

Deciding a product’s selling price is the pricing function. It considers factors such as production cost, expected profit, market demand, and competitors’ prices. Recruitment concerns selecting employees, so it is not correct. Exam tip: Link questions about price, discount, and profit with pricing.

Related tags

EntrepreneurshipPricingFunction Of EntrepreneurMarketingBusiness DecisionsQualities And Functions Of An EntrepreneurEntrepreneurial Skills IArtificial Intelligence

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