5 Questions
Why are prices of packed products higher than loose products?
Packed products have packaging charges
Which type of market generally has lower prices for the same product?
Wholesale markets
Why would a seller sell a product at a price lower than the MRP?
To attract consumers and make them regular
What does MRP stand for?
Maximum Retail Price
What is the purpose of Consumer Education?
To educate consumers about price variations
Understanding Price Variations in Economics: Why Do Prices Vary?
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
