ENTREPRENEURSHIP

Detailed explanation-1: -Price is the amount a customer is willing to pay for a product or service. The difference between price paid and costs incurred is profit. If a customer pays $10 for a product that costs $6 to make and sell, the company earns $4 in profit.

Detailed explanation-2: -Price-The amount of money asked in exchange for something else (e.g. product). Even pricing-A form of psychological pricing in which the price is an even number.

Detailed explanation-3: -Hire purchase is an arrangement for buying expensive consumer goods, where the buyer makes an initial down payment and pays the balance plus interest in installments. The term hire purchase is commonly used in the United Kingdom and it’s more commonly known as an installment plan in the United States.