Which of the following statements best describes price?
A)Price and revenue are synonymous.
B)Price always equals some monetary figure.
C)Price is based on the satisfaction consumers expect to receive from a product.
D)Pricing high results in high profits.

Question

Quizplus · Accepted Answer

Price can relate to anything with perceived value,not just money.The price paid is based on the satisfaction consumers expect to receive from a product,not necessarily what they actually receive.

Which of the Following Statements Best Describes Price