Going rate prices typically affect which type of product?
A)Fast moving consumer goods
B)Commodities
C)Luxury items
D)Industrial products

Question

Quizplus · Accepted Answer

Going rate prices typically affect commodities, which are products that are standardized and fungible, meaning they have little differentiation between producers and can be easily traded on markets. These include agricultural products, metals, and energy resources, among others. The prices of these goods are largely determined by supply and demand in the market, with little variation based on branding or features.

While going rate prices may also impact industrial products, fast moving consumer goods, and luxury items to some extent, these products are typically more differentiated and may have features, branding, or other factors that set them apart from competitors, allowing for more variation in pricing.

Going Rate Prices Typically Affect Which Type of Product