Quick Answer: What Is Considered A Reasonable Price?

What is meant by reasonable price?

adjective.

If you say that the price of something is reasonable, you mean that it is fair and not too high..

What are the 5 pricing strategies?

Five Good Pricing Strategy Examples And How To Benefit From Them5 pricing strategy examples and how to benefit form them. … Competition-based pricing. … Cost-plus pricing. … Dynamic pricing. … Penetration pricing. … Price skimming.

What is considered reasonable doubt?

Legal Definition of reasonable doubt A reasonable doubt exists when a factfinder cannot say with moral certainty that a person is guilty or a particular fact exists.

What resonate means?

intransitive verb. 1 : to produce or exhibit resonance. 2 : to respond as if by resonance resonate to the music also : to have a repetitive pattern that resembles resonance. 3 : to relate harmoniously : strike a chord a message that resonates with voters.

What is the difference between a budget and a standard?

A budget usually refers to a department’s or a company’s projected revenues, costs, or expenses. A standard usually refers to a projected amount per unit of product, per unit of input (such as direct materials, factory overhead), or per unit of output.

What does standard price mean?

A uniform price that is pre-established for services or goods that is based on cost of replacement, historical prices or the analysis of it competitive market position.

How might you determine what is a good price when making a purchase?

What do you need to consider when determining the sales price or what determines the sales price?The manufacturing costs of the product plus the profits required.The price in the market and competitors selling the same product.The cost of risks (breakage, decay/rot, left over stock)

What is the mean of reasonable?

Reasonable describes someone or something that’s sensible and fair, like your teacher who gives reasonable homework assignments — they don’t take you forever to do and they relate to what you are studying. If you’re reasonable, you have good sense and judgment.

What is standard costing technique?

2 • The technique known as standard costing consists of setting of predetermined estimate of costs and the comparison of this with actual cost as they are incurred. The difference between the actual cost and standard cost is termed the VARIANCE. Variance analysis is used to attribute variances to the various causes.

What is the difference between standard and actual cost?

Standard costs are the estimated costs for products that are predetermined and arise from the units of material, labour and other costs of production for the specific time period. Actual costs refer to the costs that are actually incurred.

What is a fair and reasonable price?

Price that a prudent buyer would pay considering market conditions, requirements alternatives, and non-price factors. Requires a great deal of judgment of the data or resources obtained by the CO.

What’s another word for reasonable?

In this page you can discover 109 synonyms, antonyms, idiomatic expressions, and related words for reasonable, like: intelligent, common sense, liberal, thoughtful, perceiving, agreeable, plausible, level-headed, rational, sensible and sane.

What are the 4 types of pricing strategies?

Apart from the four basic pricing strategies — premium, skimming, economy or value and penetration — there can be several other variations on these. A product is the item offered for sale. A product can be a service or an item. It can be physical or in virtual or cyber form.

How do you decide on pricing?

Here are a few strategies you can choose from when determining your prices:Price based on value. … Price based on perception. … Price with the trend. … Know how to raise or lower prices. … Use the high-low strategy to attract customers. … Price lower to dominate your market only if you have a long-term cost advantage.More items…•

What means sneaky?

: marked by stealth, furtiveness, or shiftiness a sneaky trick.