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In product pricing, which of these elements need more consideration than others?

Commerce
JAMB 2015

In product pricing, which of these elements need more consideration than others?

  • A. The cost of producing the product
  • B. The economic conditions in the market
  • C. the demography of the buyers of the product
  • D. The demand for the product
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Correct Answer: Option A
Explanation

What the form consider first and most is the cost of production i.e. the cost of producing the product as this determines the price at which the product will be sold.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Post UTME Past Questions Agent
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Your School's Whatsapp Group - Join Us now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts