The amount of money that a seller is willing to accept in exchange for a product, at a given time and under given circumstances, is called the
A) revenue.
B) income.
C) discount.
D) price.
E) breakeven quantity.

Question

Quizplus · Accepted Answer

The price is the amount of money that a seller is willing to accept in exchange for a product, at a given time and under given circumstances. The other options are not necessarily related to the specific amount paid for a product. Revenue is the total income generated by sales, income refers to the money earned by an individual or business, discount is a deduction from the regular price, and breakeven quantity is the point where total revenue equals total costs.

The Amount of Money That a Seller Is Willing to Accept