________ involves setting prices based on the costs for producing, distributing, and selling the product plus a fair rate of return for effort and risk.
A) Value-based pricing
B) Competition-based pricing
C) Cost-based pricing
D) Penetration pricing
E) Break-even pricing

Question

Quizplus · Accepted Answer

Cost-based pricing involves setting prices based on the costs for producing, distributing, and selling the product plus a fair rate of return for effort and risk. This method focuses on covering the costs of production and ensuring profitability for the business.

________ Involves Setting Prices Based on the Costs for Producing