MANAGEMENT

Detailed explanation-1: -The answer is (a) price. Price represents the money paid to acquire a product or service. The price is ascertained through the market forces of supply and demand.

Detailed explanation-2: -Price * is the value in money (or its equivalent) placed on a good or service. It may also be expressed in non-monetary terms, such as free goods or services in exchange for the purchase of a product. price.

Detailed explanation-3: -Pricing is the process you use to set the price of your product or service.

Detailed explanation-4: -Value-based pricing is a strategy that involves basing your prices on how the customer perceives the value of your product or service. Rather than looking at competitors or the market or the cost of the product, you go directly to the source, the customer, and choose a price based on what they’re willing to pay.