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The value of a good or service is primarily determined by the interplay of supply and demand in the market. When demand exceeds supply, prices tend to rise, reflecting higher value. Conversely, if supply surpasses demand, prices may fall, indicating lower value. Additionally, factors such as production costs, consumer preferences, and competition also influence the perceived value of goods and services.
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How is the value of good or service determined?
The value of a good or service is primarily determined by the interplay of supply and demand in the market. When demand for a product exceeds its supply, prices tend to rise, indicating higher value. Conversely, if supply outstrips demand, prices may fall, reflecting lower value. Additionally, factors such as consumer preferences, production costs, and market competition also influence perceived value.
Which of these is one way to quantify the value of a good or service?
You can quantify the value of a good or service by doing a market comparison of that good or service.
Which of these is one way to quantify value of a good service?
By finding the monetary value of something the person would willingly trade in exchange for the good or service <---Apex (:
What term is defined as an item for which the customer willing to pay?
The term defined as an item for which the customer is willing to pay is called a "product." A product can be a tangible good or an intangible service that satisfies a customer's needs or desires. Its value is determined by the perceived benefits it provides to the consumer in relation to its cost.
What is the resale value of 22kt gold jewelry in Indian market?
the resale value is determined by the original price of gold in market - manufacturing cost - service tax at the time of purchase or you can take the purchase price of gold - 20% of that price.
What is the value of a good or service is determined by?
Value is determined by the demand and the supply
How is the value of good or service determined?
The value of a good or service is primarily determined by the interplay of supply and demand in the market. When demand for a product exceeds its supply, prices tend to rise, indicating higher value. Conversely, if supply outstrips demand, prices may fall, reflecting lower value. Additionally, factors such as consumer preferences, production costs, and market competition also influence perceived value.
The value of a good or service determined?
The value of a good or service is determined primarily by the interplay of supply and demand in the market. Factors such as consumer preferences, scarcity, production costs, and the availability of substitutes also play crucial roles. Additionally, market competition and external economic conditions can influence pricing dynamics. Ultimately, value reflects what consumers are willing to pay and what producers are willing to accept.
Who determines value?
Value is determined by the interaction between supply and demand in the market. Factors such as scarcity, utility, and desirability also play a role in determining the value of a good or service. Ultimately, value is subjective and can vary depending on individual preferences and market conditions.
What is the absolute value of a good or a service?
The Absolute value of a good or a service is the level of satisfaction of the purchaser of good or recipient of service.
Demand for one good or service that is determined by demand for another good or service is?
derived demand
Demand for one good or service that is determined by demand for another good or service is .?
derived demand
Which of these is one way to quantify the value of a good or service?
You can quantify the value of a good or service by doing a market comparison of that good or service.
What is another definition for value?
It is the importance assigned to an object or service as determined by public demand.
Cost?
Is how to describe the cost of good and service , tangibles and intangible how to determined.
How does a sales contract work?
The buyer agrees to pay a pre-determined price for a good or service. The seller agrees to supply that good or service at the pre-determined price. There may well be other terms in the contract.
When a good or service is useful it is said to have?
value
