MARK CH19 DEFINITIONS

that which is given up in an exchange to acquire a good or service


(a)  

the price charged to customers multiplied by the number of units sold


(a)  

revenue minus expenses


(a)  

net profit after taxes divided by total assets


(a)  

a company’s product sales as a percentage of total sales for that industry


(a)  

a pricing objective that maintains existing prices or meets the competition’s prices


(a)  

the quantity of a product that will be sold in the market at various prices for a specified period


(a)  

the quantity of a product that will be offered to the market by a supplier at various prices for a specified period


(a)  

consumers’ responsiveness or sensitivity to changes in price


(a)  

a situation in which consumer demand is sensitive to changes in price


(a)