Explain five methods of determining the price of a product other than price control

      

Explain five methods of determining the price of a product other
than price control

  

Answers


gregory
? Bargaining / Haggling – terms of exchange is negotiated / argued / debated
between buyers and sellers.
? Demand and supply / price mechanism interactions between forces of
demand and supply.
? Auction – prices determined by the highest bidder.
? Tendering – Prices determined by the (lowest) bidder who meets the required
specifications.
? Retail price maintenance / recommended retail price / products price fixing /
price fixing where producers / manufacturers agree on the price of
commodities.
? (Price) collusion – where different market players such as buyers / sellers
conspire to fix the price.
? Taxation / subsidy – which will influence the selling / buying price.
? Private treaty – a sale of property at a price agreed on by the seller and buyer
without an intervening agency.
gregorymasila answered the question on January 26, 2018 at 06:51


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