ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Unit pricing is a way to compare similar products to determine which is the best deal. Instead of focusing only on the overall price, with unit pricing you calculate the cost of a “unit” of that product, which could be per serving, ounce or pound for a few examples.
Detailed explanation-2: -What is the purpose of comparison shopping? Comparison shopping is when consumers compare the price of products or services between different providers and retailers before making a purchase. This enables customers to shop around for what they perceive to be the best deal.
Detailed explanation-3: -We divide the price of certain number of units of an item by the number of units to find the unit price of that item. For example, to find the unit price of 12 ounces of soup that costs $2.40, divide $2.40 by 12 ounces, to get unit price of soup as $0.20 per ounce.
Detailed explanation-4: -Look at the retail or shelf price. This is the price you pay at the register for each item. Look at the unit price. The unit price will tell you how much each item costs per pound, ounce, quart, etc.