The buyer is at a disadvantage and the seller is at an advantage when the price of a good or service drops suddenly
A price is the amount of money or compensation paid by one party to another in exchange for goods or services. In some cases, the production cost is referred to by a different name. If the product is a "good" in the commercial exchange, the payment for it will most likely be referred to as its "price."
The price of a product is the amount of money that customers are willing to pay for it. Marketers must link the price to the product's true and perceived value, while also taking into account supply costs, seasonal discounts, competitor prices, and retail markup.
After the product is manufactured, pricing is an important decision-making factor. The price of a product determines its future, its acceptability to customers, and its return and profitability.
To know more about price follow the link:
https://brainly.com/question/1153322
#SPJ4
