INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Product pricing is affected by transportation costs, which are factors related to the marketing element of
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Competition
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Promotion
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Place
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Selling
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Explanation:
Detailed explanation-1: -The transport of people or goods from one place to another depends on many factors: distance, physiography, routes and means, market, climate, products, time, cost and duration.
Detailed explanation-2: -Four key market factors that must be considered when reviewing and establishing prices are: costs and expenses, supply and demand, consumer perceptions, and competition. Most price planning begins with an analysis of costs and expenses, many of which are related to current market conditions.
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