WAEC Marketing 2023 Objective — Question 17
Question 17 of 40 from the West African Examinations Council (WAEC) Marketing 2023 Objective paper, with the correct answer and a full explanation.
Advertisement
Which of the following factors is not a price determinant?
- A. Cost of production
- B. Competitor's prices
- C. Level of demand
- D. Consumer's cultureCorrect
Explanation
Consumer's culture (norms/values) generally does not determine price in real terms; cost, competition and demand are direct determinants.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.