JAMB - Commerce (2015 - No. 8)
In product pricing, which of these elements need more consideration than others?
The cost of producing the product
The economic conditions in the market
the demography of the buyers of the product
The demand for the product
Explanation
What the form consider first and most is the cost of production i.e. the cost of producing the product as this determines the price at which the product will be sold.
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