Tag: prices and cost of living

Dumping is, in general, a situation of international price discrimination where the price of a product which is sold to the importing country is less than the price of the same product when sold in the market of the exporting country. It is generally perceived that dumping would result in unfair trade.

It is believed in long run production function,total revenue is equal to total cost . There is no extra normal profit or abnormal loss.Thus , in long run price of the product is equal to the cost of production.

Price determination is an essential component of the market. Hence, price is the key feature of the market. A market can expand or contract depending on the price of the product.

The FRP is the least amount price that sugar mills have to pay to sugarcane farmers. It is strong-minded on the basis of the recommendation of Commission for undeveloped Costs and Prices (CACP) and after discussion with State Governments and other stakeholders. 

The Cabinet Committee on Economic Affairs (CCEA) chair by Prime Minister Narendra Modi has standard the suggestion in respect of strength of mind of 'Fair and Remunerative Price' of sugarcane payable by sugar mills for 2019-20 sugar season. 

Thus, the correct option is A.

A consumer price index (CPI) measures changes in the price level of market basket of consumer goods and services purchased by households. The CPI is a statistical estimate constructed using the prices of a sample of representative items whose prices are collected periodically.

The price which a consumer pays for a commodity is always less than what he is willing to pay for it, so that the satisfaction which he gets from its purchase is more than the price paid for it and thus he derives a surplus satisfaction which Marshall calls Consumer’s Surplus (CS). 

Affection from friends and family has no commercial value.

Price is the quantity of payment or compensation given to the opponent in return for goods or services. In modern economies, prices are generally expressed in units of some form of currency as exchange values.

Implies a method in which an organization tries to win loyal customers by charging low prices for their high- quality products. The organization aims to become a low cost producer without sacrificing the quality. It can deliver high- quality products at low prices by improving its research and development process. Value pricing is also called value-optimized pricing.

• A value that will purchase a finite quantity, weight, or other measure of a good or service.
• As the consideration given in exchange for transfer of ownership, price forms the essential basis of commercial transactions. It may be fixed by a contract, left to be determined by an agreed upon formula at a future date, or discovered or negotiated during the course of dealings between the parties involved.