Price refers to the money or other considerations (including other products and services) exchanged for the ownership or use of a product or service. While value judgments and assessments are factors in determining price, ultimately price is defined by the exchange of tangible goods or services.

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Price Refers to

Question 20

Multiple Choice

Price refers to

A) the value assigned to the exchange of products and services for other products and services.
B) the value judgment made by both the buyer and seller regarding an item's worth.
C) the money or other considerations (including other products and services) exchanged for the ownership or use of a product or service.
D) the value assessed for the benefits of using a product or service.
E) the highest monetary value a customer is willing to pay for a product or service

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