Question

Price
b. Cost price
d. Standard price
7. The installation of a system will create confidence in the minds of public about the
fairness of the prices charged.​

Answer 1

Answer:

a price is the quantity of payment or compensation given by one party to another in return for one unite of goods.

Answer 2

• The price is the amount of money required to pay in order to purchase any goods and services.
• Cost price is the price at which the goods have been bought by the merchant or a retailer. The cost price for retailers and for a manufacture is different.
• The cost price for a manufacturer is the total amount required to purchase the raw materials, the wages of the labor, and the use of machinery for production. The cost price of the retailer include all these costs plus the transportation as well as a profit margin of the manufacturer.