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JAMB Commerce 2002 Question 42

Question 42

Marketing

In product pricing, which of these elements needs more consideration than others?

  1. A.the demand for the product
  2. B.the demography of the buyers of the product
  3. C.the economic conditions in the market
  4. D.the cost of producing the product.
Show the answer and explanation

Answer: D (the cost of producing the product.)

Explanation

A price must at least cover the cost of producing the product, so cost is the main consideration.