In most cases, prices are set by the
A) customers.
B) competitive market.
C) largest competitor.
D) selling company.

Question

Quizplus · Accepted Answer

Prices are typically set by the competitive market, which takes into consideration supply, demand, and the pricing strategies of competitors. While the selling company may have some influence on pricing, ultimately it is the market that determines the going rate for a product or service. Customers may have some bargaining power, but they do not typically set the overall market price. The largest competitor may have some influence on pricing in certain industries, but they do not have complete control over price setting.

In Most Cases, Prices Are Set by the