The interrelation between business products and price.

[Axis]

For goods and services to be purchased by the final consumer they need to be a stipulated amount of price on the goods and services so that the final consumer can be mindful of the amount of money in which he or she needs to pay in order to acquire the product. The amount of money we are talking about here is constantly known as the price of that product. The price of products is definitely affected by many other factors in which we may not consider in this thread. Some of these factors include government influence on the business and the cost of production employed in the manufacturing or the making of such products to be available for sale.

The price system of goods and services by business owners should definitely be done based on the income generating capacity of members of the public. If individuals residing in your business environment are low income earners then it is best to cut down the cost of goods and services, so that you can have reasonable amount of customers and clients. That is why it is advised to carry out a feasibility study about the environment you intend situating your business, so as to be sure of the income capacity of individuals residing in it and what type of products to sell, produce, or render that will meet their needs and wants.