Question 1

The price the store pays to purchase a product from a supplier.

Accepted Answer

cost

Answer

profit

Answer

margin

Answer

revenue

Question 2

The difference between the purchase price and the sale price.

Accepted Answer

margin

Answer

profit

Answer

cost

Answer

revenue

Question 3

Total dollar sales over some period of time.

Accepted Answer

revenue

Answer

margin

Answer

profit

Answer

cost

Question 4

Revenue minus expenses.

Accepted Answer

profit

Answer

revenue

Answer

margin

Answer

cost

Question 5

Setting prices based on cost.

Accepted Answer

cost-oriented pricing

Answer

competition-oriented pricing

Answer

demand-oriented pricing

Answer

skim pricing

Question 6

Setting prices based on what the customer is willing to pay.

Accepted Answer

demand-oriented pricing

Answer

loss leader pricing

Answer

competition-oriented pricing

Answer

cost-oriented pricing

Question 7

Setting prices based on competitor's prices.

Accepted Answer

competition-oriented pricing

Answer

cost-oriented pricing

Answer

demand-oriented pricing

Answer

quality pricing

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