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Price refers to the amount of money a buyer must pay to acquire a product or service. It is a key component of market transactions and is influenced by factors such as production costs, demand, competition, and perceived value. In consumer markets, price can be fixed, discounted, or negotiated and often plays a central role in purchasing decisions. It can also signal quality or exclusivity, especially in premium goods. Businesses may use various pricing strategies—such as cost-plus, value-based, or dynamic pricing—to attract customers, maximize profits, or gain market share.
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