The selling price of products is determined by market forces but can also be dependent on the cost of the product, particularly where there is little or no competition.

Question

Quizplus · Accepted Answer

The statement is true as market forces such as supply and demand play a role in determining the selling price, but the cost of the product can also be a factor in pricing, especially in situations where there is little or no competition.

The Selling Price of Products Is Determined by Market Forces