What is Pricing?
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- meaning of price
- price definition
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Price
Price: What is received in exchange for a service or product is called a price.
When a producer produces and sells a good, he receives a price for it. Value is the price of the product.
When service providers provide services to customers, they get paid. The price paid is the price for this service.
Businesses have multiple intermediate prices, they buy products at low prices and sell them to customers at the right prices, they also derive value from those products.
In short, what is charged for a good or service is the price of that good or service. This type of exchange price is known as a commodity or service price.
The method or methods used to estimate the price method is called the price method.
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