Multiple choice

An amount we pay for a good or a service or an idea is called as _____

  1. cost

  2. price

  3. M.R.P

  4. Investment

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Price is defined as the amount of money paid for goods, services, or ideas in a transaction. It is distinct from cost (the expense to produce), MRP (maximum retail price printed on packaging), or investment (putting money into assets with expected returns). Price is the actual payment made by the buyer.