What influences pricing of goods and services in business

Price is influenced by demand and supply of goods and services.The higher the supply of goods and services the lower the price while the lower the supply of goods and services with high demand for the goods by the customers then the higher the price will be for the goods and services.When supply of goods and services is low while demand for the goods and services is low,then the price for the goods and services will also be low.

Price is also influence by taxes,the higher the tax being implemented on products then the higher the price will be for the products.

Price is also influence by seasonality of the products and services.

Seasonal products like for example umbrella will cost less during sunning seasons unlike during rainy seasons when the price for the umbrella will shoot tremendously.

Luxuriant of the products also has impact on pricing the goods and services.Luxury and precious products may cost more even though it can be of lower quality than similarly products with high quality which costs less.

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