In ________, the list price of an item is determined by adding a markup percentage to a product's cost.

Question

Quizplus · Accepted Answer

Cost-based pricing involves determining the list price of a product by adding a markup percentage to its cost. This markup percentage helps to cover the costs of production, overhead, and provide a profit margin for the business. Cost-based pricing is commonly used in retail and manufacturing sectors.

In ________, the List Price of an Item Is Determined