Pricing Pricing In economics, affine pricing is a situation where buying more than zero of a good gains a fixed benefit or cost, and each purchase after that gains a per-unit benefit or cost. ...more on Wikipedia about "Affine pricing"
The average sales price of goods or commodities. Especially used in the retail sector and technology distribution. ...more on Wikipedia about "Average Selling Price"
Barter is a type of trade where goods or services are exchanged for a certain amount of other goods or services, i.e. there is no money involved in the transaction. It can be bilateral or multilateral as trade. ...more on Wikipedia about "Barter"
Base point pricing is an economics term used to describe the system of firms setting prices of their goods the same to all buyers regardless of the buyers location, even if their transportation costs to the locations are different. ...more on Wikipedia about "Base point pricing"
Bid-Rigging is an illegal agreement between two or more competitors. It is a form of price fixing and market allocation, and involves an agreement in which one party of a group of bidders will be designated to win the bid. It is often practised where contracts are determined by bid, for example with government construction contracts. ...more on Wikipedia about "Bid rigging"
The break even point for a product is the point where total revenue received equals total costs (TR=TC). A break even point is typically calculated in order for businesses to determine if it would be profitable to sell a proposed product, as opposed attempting to modify an existing product instead so it can be made lucrative. ...more on Wikipedia about "Break even analysis"
Competitor indexing is a price setting technique used by marketers. Generally, it involves using the price of competitors' products in determining the price of your own products. ...more on Wikipedia about "Competitor indexing"
Cost-plus pricing is a pricing method commonly used by firms. It is used primarily because it is easy to calculate and requires little information. There are several varieties, but the common thread in all of them is you first calculate the cost of the product, then include an additional amount to represent profit. Cost-plus pricing is often used on government contracts, and has been criticized as promoting wasteful expenditures. ...more on Wikipedia about "Cost-plus pricing"
See also : pricing, cost-plus pricing, price elasticity of demand, markup, production, costs, and pricing, marketing, microeconomics ...more on Wikipedia about "Cost-plus pricing with elasticity considerations"
Discounts and allowances are modifications to the basic price. They could modify either the manufacturers list price (which is a price determined by the manufacturer and often printed on the package), the retail price (which is set by the retailer and often attached to the product with a sticker), or the list price (which is quoted to a potential buyer, usually in written form). The market price (also called effective price) is the amount actually paid. The purpose of discounts is to increase short-term sales, move out-of-date stock, reward valuable customers, or encourage distribution channel members to perform a function. Some discounts and allowances are forms of sales promotion. ...more on Wikipedia about "Discounts and allowances"
Taxes and subsidies have the effect of shifting the quantity and price of goods. ...more on Wikipedia about "Effect of taxes and subsidies on price"
Factor price equalization is an economic theory, which states that the relative prices for two identical factors of production in the same market will eventually equal each other because of competition. The price for each single factor need not become equal, but relative factors will. Whichever factor receives the lowest price before two countries integrate economically and effectively become one market will therefore tend to become more expensive relative to other factors in the economy, while those with the highest price will tend to become cheaper. ...more on Wikipedia about "Factor price equalization"
Fair value, also called fair price, is a concept used in finance and economics. ...more on Wikipedia about "Fair value"
A fare is the fee paid by a traveller allowing him or her to make use of a public transport system: rail, bus, taxi, etc. In the case of air transport, the term airfare is often used. ...more on Wikipedia about "Fare"
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Geographical pricing, in marketing, is the practice of modifying a basic list price based on the geographical location of the buyer. It is intended to reflect the costs of shipping to different locations. ...more on Wikipedia about "Geographical pricing"
Hedonic regression, or more generally hedonic demand theory, in economics is a method of estimating demand or prices. It decomposes the item being researched into its constituent characteristics, and obtains estimates of the value of each characteristic. In essence it assumes that there is a separate market for each characteristic. It may be estimated using ordinary least squares (OLS) regression analysis. Often an attribute vector (or dummy variable) is assigned to each characteristic or group of characteristics. Each characteristic within a vector is either included in the regression or not, by multiplying it by either 1 or 0. ...more on Wikipedia about "Hedonic regression"
Pricing for joint products is a little more complex that pricing for a single product. To begin with there are two demand curves. The characteristics of each demand curve could be different. Demand for one product could be greater than for the other product. Consumers of one product could be more price elastic than the consumers of the other product (and therefore more sensitive to changes in the product's price). ...more on Wikipedia about "Joint product pricing"
The Lerner Index, named after the economist Abba Lerner, describes a monopoly's pricing power. ...more on Wikipedia about "Lerner Index"
A Limit Price is the price set by a monopolist to discourage economic entry into a market. The limit price is lower than the revenue-maximizing price in the short term. This is usually done in responce to new competitors. When they have been forced out of the market the monopolist can raise price again. ...more on Wikipedia about "Limit price"
Description: The book is usually considered to be the beginning of modern economics. It begins with a discussion of the Industrial Revolution. Later it critiques the mercantilism and a synthesis of the emerging economic thinking of his time. It is mostly known due to the idea of The Invisible Hand which is an often quoted phrase from the book. Its meaning is that people will unintentionally improve their community through pursuit of their own wants and needs. The Butcher, the Baker, and the Brewer provide goods and services to each other out of self-interest; the unplanned result of this division of labor is a better standard of living for all three. ...more on Wikipedia about "List of publications in economics"
Local Exchange Trading Systems (LETS) and Schemes are local, non-profit exchange networks in which all kinds of goods and services can be traded without the need for money. A LETS network uses an interest-free local credit or currency so direct swaps do not need to be made. A LETS member may earn local credit by doing childcare or computer work for one person, and spend it later on food, hiring equipment, plumbing, or carpentry with another person on the same network. A LETS is sometimes also referred to as a mutual credit system. ...more on Wikipedia about "Local Exchange Trading Systems"
In marketing, a loss leader is an item that is sold below cost in an effort to stimulate other profitable sales. There are several varieties of these profitable sales. ...more on Wikipedia about "Loss leader"
In marketing generally and in retailing more specifically, a loyalty card, rewards card, points card, or club card is a plastic card, visually similar to a credit card or debit card, that identifies the card holder as a member in a commercial incentives programme. ...more on Wikipedia about "Loyalty program"
Markup is a term used in marketing to indicate how much the price of a product is above the cost of producing and distributing the product. It can be expressed as a fixed amount or as a percentage. There are numerous variations of each. ...more on Wikipedia about "Markup (business)"
MSRP stands for "Manufacturer's Suggested Retail Price". ...more on Wikipedia about "MSRP"
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