Commerce Exam > Commerce Notes > Additional Study Material for Commerce > Very Short Type Questions - Enterprise Marketing, Entrepreneurship, Class 12
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Q1. Define Price. (1 mark)
Ans. Price of a product is the amount of money paid by the buyer to own the product or service.
Q2. What is Price Mix ? (1 mark)
Ans. Price Mix refers to the important decisions related to fixing of price of a commodity.
Q3. Define ‘Quantity Discount’. (CBSE 2009 Comptt.) (2 marks)
Ans. ‘Quantity Discount is a type of ‘discounting’ in which discount is offered by entrepreneur or seller on bulk sales.
Q4. Mention two factors affecting pricing of the commodity. (1 mark)
Ans. Cost of production, goal of firm, prevalent competition, etc., affect the price of the commodity.
Q5. An entrepreneur charges different prices from different categories of the customers. What type of pricing is it ? (1 mark)
Ans. It is Variable Pricing.
Q6. An entrepreneur introduces a new product with very low price. What type of pricing is it ? (1 mark)
Ans. It is Penetration Pricing.
Q7. An entrepreneur launches a new product in the market with high price. Identify the type of pricing. (1 mark)
Ans. It is Skimming Price Method.
Q8. In which method of pricing bargaining plays an important role ? (1 mark)
Ans. Variable Price Method.
Q9. What is meant by variable pricing technique ? (CBSE 2014) (1 mark)
Ans. In this technique different rates are charged from different customers for same goods or services.
Q10. Give two examples of variable prices. (2 marks)
Ans.
(i) Difference in prices due to size of the product : 200 ml coke is sold for Rs. 8 whereas 2000 ml (2 Ltr.) bottle of coke is sold for Rs. 60.
(ii) Difference in bargaining power of the customers : Vendor charge different prices from different customers as per their bargaining power.
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