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Price Variations in Economics

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Questions and Answers

Why are prices of packed products higher than loose products?

Packed products have higher taxes

Packed products have packaging charges (correct)

Packed products have higher demand

Packed products have better quality

Which type of market generally has lower prices for the same product?

Online markets

Specialty markets

Retail markets

Wholesale markets (correct)

Why would a seller sell a product at a price lower than the MRP?

To compete with other sellers

To increase the commission

To attract consumers and make them regular (correct)

To maximize profit

What does MRP stand for?

<p>Maximum Retail Price</p> Signup and view all the answers

What is the purpose of Consumer Education?

<p>To educate consumers about price variations</p> Signup and view all the answers

Price Variations in Economics

Choose a study mode

Podcast

Questions and Answers

Why are prices of packed products higher than loose products?

Which type of market generally has lower prices for the same product?

Why would a seller sell a product at a price lower than the MRP?

What does MRP stand for?

What is the purpose of Consumer Education?

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