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WAEC Marketing 2020 Question 23

Question 23

Pricing

Which of these factors is not a price determinant?

  1. A.level of market demand.
  2. B.economic trend.
  3. C.standard of living.
  4. D.competitor's price.
Show the answer and explanation

Answer: C (standard of living.)

Explanation

Demand, competitors' prices and economic conditions directly affect the price a firm sets.