Producers often use _______ as a primary basis for setting prices on the goods and services they offer the public.

Question

Quizplus · Accepted Answer

Producers use their costs, including production and marketing expenses, as a primary basis for setting prices on the goods and services they offer. They may also consider other factors such as competition, customer demand, and market trends, but costs are typically the starting point in determining price. Quotas and tariffs are government-imposed restrictions on trade, while market share is a measure of a company's portion of total sales in a given market.

Producers Often Use _______ as a Primary Basis for Setting