Pricing the product

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 Introduction Pricing is one of the most important decisions made by any business organisation. Economists use the term market clearing price to identify a price at which sellers are prepared to sell because they feel they are getting a fair price, and buyers are prepared to buy because they feel they are getting value for money. If prices are too high or too low the market will fail to clear. The housing market provides us with an example of a market-place that is often slow…

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