Question

Prices are often set to satisfy demand or to reflect the premium that consumers are willing to pay for a product or service. Some critics shudder at the thought of 12 rupee bottles of water, 4500 rupee running shoes and 5000 rupee concert tickets. In light of the above paragraph, DISCUSS whether prices should reflect the value that consumers are willing to pay OR prices should primarily just reflect the cost involved in making a product or service plus a little profit margin.​

Answer 1

Explanation:

Prices are often set to satisfy demand or to reflect the premium that consumers are willing to pay for a product or service. Some critics shudder at the thought of 12 rupee bottles of water, 4500 rupee running shoes and 5000 rupee concert tickets. In light of the above paragraph, DISCUSS whether prices should reflect the value that consumers are willing to pay OR prices should primarily just reflect the cost involved in making a product or service plus a little profit margin.

Answer 2

Answer:

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Explanation:

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