In pricing terms, which statement about price is accurate?

In pricing terms, which statement about price is accurate?

• A. how much and how often to charge
• B. describes the goods or service being offered
• C. the unit cost, currency, and billing cycle
• D. the process of collecting payments

Answer: (C)

In pricing terms, price is the amount charged per unit of a product or service, expressed in a specific currency, and, for recurring offerings, tied to a billing cycle that determines how often the charge occurs. That’s why describing the unit cost, the currency, and the billing cycle best defines price. The other statements describe related ideas—the product itself, or the payment flow, or a charging schedule—without defining the monetary amount per unit and its repetition.

In pricing terms, price is the amount charged per unit of a product or service, expressed in a specific currency, and, for recurring offerings, tied to a billing cycle that determines how often the charge occurs. That’s why describing the unit cost, the currency, and the billing cycle best defines price. The other statements describe related ideas—the product itself, or the payment flow, or a charging schedule—without defining the monetary amount per unit and its repetition.