The factor method is widely used by producers of consumer products, but it isn't relevant for producers of business products.

Question

Quizplus · Accepted Answer

The statement is false. The factor method can also be used by producers of business products to determine the price of their products. The factors considered may differ depending on the market and industry, but the general principles of cost, competition, and demand still apply.

The Factor Method Is Widely Used by Producers of Consumer