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A fire sale is the sale of goods at extremely discounted prices. The term originated in reference to the sale of goods at a heavy discount due to fire damage . It may or may not be defined as a closeout , the final sale of goods to zero inventory .
Pricing can be a manual or automatic process of applying prices to purchase and sales orders, based on factors such as: a fixed amount, quantity break, promotion or sales campaign, specific vendor quote, price prevailing on entry, shipment or invoice date, combination of multiple orders or lines, and many others.
The list price, also known as the manufacturer's suggested retail price (MSRP), or the recommended retail price (RRP), or the suggested retail price (SRP) of a product is the price at which its manufacturer notionally recommends that a retailer sell the product.
A closeout or clearance sale (closing down sale in the United Kingdom) is a discount sale of inventory either by retail or wholesale. It may be that a product is not selling well, or that the retailer is closing because of relocation, a fire (a fire sale), over-ordering, or especially because of bankruptcy.
The law of supply is a fundamental principle of economic theory which states that, keeping other factors constant, an increase in sales price results in an increase in quantity supplied. In other words, there is a direct relationship between price and quantity: quantities respond in the same direction as price changes.
Price gouging is the practice of increasing the prices of goods, services, or commodities to a level much higher than is considered reasonable or fair. [who?] Usually, this event occurs after a demand or supply shock. This commonly applies to price increases of basic necessities after natural disasters.
In business this requested amount is often referred to as the offer price or selling price, while the actual payment may be called transaction price or traded price. Economic price theory asserts that in a free market economy the market price reflects the interaction between supply and demand : [2] the price is set so as to equate the quantity ...
Resale price method (RPM): goods are regularly offered by a seller or purchased by a retailer to/from unrelated parties at a standard "list" price less a fixed discount. Testing is by comparison of the discount percentages. Gross margin method: similar to resale price method, recognised in a few systems. Profit-based methods
Value added. Value added is a term in financial economics for calculating the difference between market value of a product or service, and the sum value of its constituents. It is relatively expressed to the supply-demand curve for specific units of sale. [1]
The invoice price is the actual price that the end-customer retailer pays to the manufacturer or distributor for a product. However, in many industries, the "invoice cost" actually varies from the "net purchase cost," or the actual price of a product.