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Standard 4 Price Flashcards | StudBud
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Standard 4 Price
Standard 4 Price
11 terms
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StudBud Administration
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33 plays
Marketing Price
Flashcards
11 cards
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Practice quiz
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Questions
11
Answers
1
More supply than demand
surplus - leads to lower prices
shortage - leads to higher prices
2
Fixed costs
Fluctuates up and down
represent the largest costs
costs that are consistent
change or are variable based on # of units
3
Some firms may price products or services low to attract customers
False
True
4
Firms must consider many things when working on their pricing
False - as long as one person wants it - price it high
False
True, costs, demand, competition, strategy, etc....
True
5
Costs such as labor that change based on the quantity produced
Fixed Costs
Cost Plus Pricing Method
Bundling - Marginal Pricing
Variable Costs
6
The point at which your profits from # of sales is equal to your costs
Surf point -
Equilibrium
Break Even
Profit Margin
7
Function of Marketing affects how well a product sells & the amount of $ the business makes?
Sales
Promotion
Price or Pricing
Cost
8
the practice of pricing goods at a high level in order to give the appearance of quality.
Prestige
odd - even
psychological
Penetration - Low Pricing
9
This communicates value and quality, it is useful as a measure
Place
Promotion
Price
Product
10
More quantity demanded than able to be supplied
Surplus - prices go down
Shortage - prices go up
11
The struggle between firms for customers is called
communism
The STRUGGLE
capitalism
competition
