what are the nature and characteristics of price?
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what are the nature and characteristics of price?
what are the nature and characteristics of price?
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Answer:
The four characteristics of the price system are that it is;
neutral, market driven, flexible, and efficient. It is neutral because prices do not favor the producer or the consumer because the they both make choices that determine the equilibrium price.
NATURE OF PRICE
-The value exchanged for products in a marketing exchange.
Answer:
The four characteristics of the price system are that it is neutral, market driven, flexible, and efficient. It is neutral because prices do not favor the producer or the consumer because the they both make choices that determine the equilibrium price.