Please examine in detailed. Q1. How is the voluntary nature of the commercial ex

Question

Please examine in detailed.

Q1. How is the voluntary nature of the commercial exchange related to its potential for creating benefits for society?

Q2. What are fixed prices? What do customers like about fixed prices? What do retailers like about fixed prices?

Q3. Describe some benefits of coordinating pricing activities with the other functions of a business organization.

Q4. Given that there is a serious disadvantage to cost-based pricing, how would you account for its widespread use in retailing and other businesses?

Explanation / Answer

1)

Voluntary nature of commercial exchange refers to a practice where both buyer and seller participate on their own as it will be advantageous and make them better off. There is no compulsion but done to help both the parties. Example: The vending machine of Pepsi in office allows customers to purchase the product any time of the day with ease by inserting the money and getting desired item. For company, it is a low cost mechanism as they need not to deploy any person for the activity. They can simply refill the Kiosk and help them to run the business.

It benefits the society as:

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects