Expenses, costs,Demand , Supply,perceptions of consumers and Competition are major factors that affect price.
What are the factors that affect price?
- Expenses and costs.
- Demand and Supply.
- perceptions of consumers.
- Competition.
- the effect that a change in value has on the market's customer demand for a given good or service. The impact an event has on a product's price is referred to as the price effect.
- The unit cost of employing an element of production, such as labor or physical capital, is known as a factor price in economic theory. The factors that affect factor pricing are hotly contested.
- Costs. You must first and foremost have sound financial knowledge.
- Customers. Positioning: Be aware of what your consumers desire from your goods and services. You must consider your placement after you have an understanding of your consumer.
- Competition. Financial gain.
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