Tag: price
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Economic growth
Economic growth There are many ways economists describe economic growth, for example: An increase in the number of goods and service produced by an economy Increase in the overall capacity of producing goods and services Government wants it for higher GDP and better standard of living
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Price stability in an Economy
Price stability The government does not want the prices of goods and services to change dramatically Unstable prices lead to uncertainty and lack of investment A stable increase in price shows economic growth
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Aims of government policies
Aims of government policies Full employment Price stability Economic growth Redistribution of income Balance of payments stability
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Equilibrium Price
Principle of equilibrium price The equilibrium price is the price where demand and supply are equal. Equilibrium is defined to the price-quantity pair where the quantity demanded is equal to the quantity supplied, represented by the intersection of the demand and supply curves
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Pricing strategy
Methods of pricing Cost plus Competitive Psychological Penetration Price skimming Cost plus pricing The total cost of producing a product is calculated, and after that a mark-up is added to calculate the price Competitive pricing The price is calculated after keeping in view the price of competition. Competitive price is normally kept just…
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Marketing mix
Marketing mix Product Price Place Promotion