Question

each item to be sold has a price tag on it the price on the tag is the _____ of the item​

Answer 1

On the tag the cost price is written which is the price you have to give to the owner for buying it
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Answer 2

Each item to be sold has a price tag on it the price on the tag is the selling price of the item​.

• Selling price is the price where the goods are sold to customer.
• Cost price is the price where the goods are purchased by a merchant.
• The difference of selling price and cost price can be profit or loss.
• If the difference is positive then profit for shopkeeper.
• If the difference is negative then loss for shopkeeper.