fenderjaden fenderjaden

25-06-2024
Business

Answered

Select the correct answer.

Which of these statements explains the term price?

A. The money spent by a seller to advertise a product
B. The money spent by a manufacturer to make a product
C. The money spent by a buyer to purchase a product

Answer :

GinnyAnswer GinnyAnswer

25-06-2024

Final answer:

Price is the money spent by a buyer to purchase a product.

Explanation:

Price refers to the money spent by a buyer to purchase a product. It is what a buyer pays for a unit of a specific good or service. The total number of units that consumers would purchase at that price is called the quantity demanded.

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