ENTREPRENEURSHIP

Detailed explanation-1: -The price that a customer is willing to pay for a given quantity is called demand price.

Detailed explanation-2: -Customer cost refers not only to the price of a product, but it also encompasses the purchase costs, use costs and the post-use costs. Purchase costs consist of the cost of searching for a product, gathering information about the product and the cost of obtaining that information.

Detailed explanation-3: -price, the amount of money that has to be paid to acquire a given product.

Detailed explanation-4: -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.