BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Total of all the things you own that have a value, or could create money for you in the future
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Price at which buyers and sellers agree to trade in a free market
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The total amount of a product (good or service) available for purchase at any specified price.
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A value that will purchase a finite quantity, weight, or other measure of a good or service.
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Detailed explanation-1: -What Is Market Price? The market price is the current price at which an asset or service can be bought or sold. The market price of an asset or service is determined by the forces of supply and demand. The price at which quantity supplied equals quantity demanded is the market price.
Detailed explanation-2: -“Contract Price” means the agreed price stated in the Contract for the sale of Products and Services, including adjustments (if any) in accordance with the Contract. “Products” means the equipment, parts, materials, supplies, and other goods Seller has agreed to supply to Buyer under the Contract.
Detailed explanation-3: -In a competitive market, sellers compete against other suppliers to sell their products and buyers bid against other buyers to obtain the product. This competition of sellers against sellers and buyers against buyers determines the price of the product. It’s called supply and demand.
Detailed explanation-4: -free market, an unregulated system of economic exchange, in which taxes, quality controls, quotas, tariffs, and other forms of centralized economic interventions by government either do not exist or are minimal.
Detailed explanation-5: -Is market price the same as selling price? In a nutshell, the answer is no. The selling price is the price for which someone actually buys your home. It’s important to understand that if your market price is inaccurate, you’re unlikely to sell your property quickly or easily.