Expenses, costs,Demand , Supply,perceptions of consumers and Competition are major factors that affect price.
What are the factors that affect price?
Expenses and costs.
Demand and Supply.
perceptions of consumers.
Competition.
the effect that a change in value has on the market's customer demand for a given good or service. The impact an event has on a product's price is referred to as the price effect.
The unit cost of employing an element of production, such as labor or physical capital, is known as a factor price in economic theory. The factors that affect factor pricing are hotly contested.
Costs. You must first and foremost have sound financial knowledge.
Customers. Positioning: Be aware of what your consumers desire from your goods and services. You must consider your placement after you have an understanding of your consumer.
