The amount of money consumers pay to buy a product is its ________.

Question

Quizplus · Accepted Answer

Price is the most appropriate term to describe the amount of money consumers pay for a product. Fee, cost, and charge could be considered synonyms of price but are more commonly associated with specific types of expenses, such as fees for services or charges for credit card transactions. Value, on the other hand, refers to the worth or usefulness of a product, not the amount of money paid for it.

The Amount of Money Consumers Pay to Buy a Product