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Purchase price is what the employee time costs the company to provide the service. Hourly rate plus all costs to you for that employee.
Sales price is what you charge the customer for that employee time.
EX.
Company X buy material 1001 from Company Y.
SO I must maintain a Purchase contract of material 1001 of Company X, supplier is Company Y.
Meanwhile, I have to maintain a Sale Price list of material 1001 of Company Y, customer is Company X.
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What is a tax based on the price of goods and paid at the time of purchase?
A tax based on the price of goods and paid at the time of purchase is a sales tax.
Purchase decisions are based on how consumers perceive prices and what they consider to be the blank price not the marketer's stated price?
Last purchased price current actual current sales price referent price, Ans: current sale price.
What nation's production possibilities curve is constructed under the assumption that?
Suppose the purchase price of a dining room set is $650.If the sales tax is $58.50, what is the sales tax rate?
What is a ruling price?
The ruling price at any time is the last recorded sales price .
What are the differences between elastic, inelastic, and unit elastic demand, and how do they impact the pricing and sales of a product?
Elastic demand means that a small change in price leads to a large change in quantity demanded. Inelastic demand means that a change in price has little impact on quantity demanded. Unit elastic demand means that the percentage change in price is equal to the percentage change in quantity demanded. For pricing and sales, elastic demand typically leads to lower prices and higher sales volume, as consumers are more sensitive to price changes. Inelastic demand allows for higher prices with less impact on sales volume, as consumers are less sensitive to price changes. Unit elastic demand falls in between, with price changes having a proportional impact on sales volume.
