1) Fill in the blanks: Pricing __________ a) is a shield against damage   b) increases awareness of the product  c) is an effective competitive weapon d) aids in grading products 2) Pricing is used as? a) tool for restricting distribution of product b) regulator of demand for a product c) means to package the product d) product diversifiication 3) Price must reflect the interest of both parties ( the buyer and seller ) for transactions. Identify the factor determining price. a) Government and Legal Regulations b) Marketing methods c) Utility and demand d) Pricing objectives e) Product cost 4) Which cost does not vary with the level of activity?  a) Variable costs  b) Fixed costs c) Indirect costs d) Semi variable costs e) Operating costs 5) Surviving in a competitive market comes under which factor determining price?   a) Extent of competition in the market b) Pricing objectives c) Utility and Demand d) Marketing methods

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