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How to Choose the Right Price for Your Product
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[QUOTE="btaliat, post: 256358, member: 26390"] You just don't fix the price for goods except the goods have corresponding value to the customers. If paradventure one makes the mistake of fixing price, it is either there is under demand of the goods, it means the goods doesn't worth the price, or there may be over demand of the goods, which means people always want to take the advantage of the fact that the goods is worth more than its fixed price. Other factors which the sellers consider before fixing the price may include checking the price board. There is price control in every economy. The seller will be too careful not to sell much above the price control because that is what always represents market price. Some may consider the cost of production. The price of transportation and other factors of production like labour may be also consider before fixing the price of a commodity. Though in some socialist countries, government is responsible for the fixing of price. This is because there is always uniformity in the price of goods in socialist countries. There is free will in the capitalist market, into the contrary, the individual is always allowed to fix whatever price they may want to fix under the price control [/QUOTE]
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