An external issue to be considered when setting a price is
A)the quality of materials and labor.
B)total demand for the product or service.
C)usage of scarce resources.
D)the variable costs of the product or service.

Question

Quizplus · Accepted Answer

Total demand for the product or service is an external issue that should be considered when setting a price. It is important to understand how much customers are willing to pay and what the competition is charging for similar products or services. This information can help determine the optimal price point for the product or service. Factors such as quality of materials and labor, usage of scarce resources, and variable costs of the product or service are internal considerations that can influence pricing decisions.

An External Issue to Be Considered When Setting a Price