ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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How much a product costs.
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Startup Costs
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Pricing
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Price Comparison
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Organizational Structure
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Explanation:
Detailed explanation-1: -Cost price is the total amount of money that it costs a manufacturer to produce a given product or provide a given service.
Detailed explanation-2: -How to calculate cost price? Simply add together the labor cost, the components cost, the tools cost, the marketing costs and the overhead cost.
Detailed explanation-3: -Cost is typically the expense incurred for making a product or service that is sold by a company. Price is the amount a customer is willing to pay for a product or service.
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