General Pricing Approach Flashcards
Is the amount that the customer pays for the product the amount of money exchange for something of value
Price
Total amount that a company gets based on quantity sold multiplied with selling price
Sales
Total income profit that company keeps after all expenses have been paid for simply put sales minus expenses equals_____
Revenue
Cost incurred due to the operations of the business do not fluctuate with volume of sales
Fixed cost
Level of income that is desired by the company this usually comes out in percentage form as a amount of marked place on top of the fixed and variable cost of a product
Profit margin
Cost that very based on the volume of or quantity bigger quantities of the same order will cause less than smaller quantities of the same specifications
variable cost
The point where in total cost is equal to total revenue
Break even point
