ENTREPRENEURSHIP

Detailed explanation-1: -The most common way to determine it is to divide the total sales by the total cost of production. This will give you the profit rate. There are also ways to calculate the profit margin using other methods, such as industry analysis or market research.

Detailed explanation-2: -Meaning of Pricing: Pricing is a process of fixing the value that a manufacturer will receive in the exchange of services and goods. Pricing method is exercised to adjust the cost of the producer’s offerings suitable to both the manufacturer and the customer.