Which of the following are the elements of Marketing mix?
Product
Price
Place
All of the above
Product, price and place are all elements of Marketing mix.
What is the importance of price element of marketing mix?
or
Why is price so important in marketing ?
Taxes are actually interventions that affect market prices, because taxes affect the equilbrium price of the goods, raising it above or below market price.
If the equilibrium price of a good is greater than its market price, explain all the changes that will take place in the market.