Scenario:The owner of Bond's Gym wants your advice. He asks you if you think positive incentives would work better than negative incentives.He is considering these options: - Raising or lowering prices - Applying discounts or fees - Offering exclusive memberships Bond's Gym should use to help solve the problem. If the owner of Bond's Gym raises his prices, the demand for membership will most likely . If the owner of Bond's Gym decides to raise his prices, he could make money per monthly membership.

If the owner of Bond's Gym raises his prices, the demand for membership will most likely decrease.
If the owner of Bond's Gym decides to raise his prices, he could make more money per monthly membership.

What is price?

Price can be defined as the amount of money that must be paid by a buyer (customer) to a seller (producer or owner), so as to acquire goods and services.

This ultimately implies that, it is an amount of money a customer that is buying goods and services are willing to pay to the seller (producer or owner) for the goods and services being offered.

In this scenario, we can deduce the following points:

If the prices of Bond's Gym services are raised, the demand for membership will most likely decrease.

If the prices of Bond's Gym services are raised, the owner could make more money per monthly membership.

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