Question

In: Finance

Which of the following is not a form of price? : Rent Tuition Fee Fare Rate...

Which of the following is not a form of price? :

Rent

Tuition

Fee

Fare

Rate

Toll

Premium

Royalties

Bribe

Dues

Salary

Commission

Wage

Tax

Please put a Y or an N next to the following above, THANK YOU!! :)

Solutions

Expert Solution

Rent : Yes. Rent is the price paid for using someone's property.

Tuition: Yes. The price paid for the knowledge imparted in educational institution.

Fee: Yes. The price paid for doing a course

Fare: Yes. The price paid for using someone's services like taxi fare.

Rate: Yes. It is the price at which the service will be provided per unit. For example: rates of phone calls or land rates

Toll: Yes. It is the charge paid for using the road pr bridge that has been constructed to make the travel easier for the people.

Premium: Yes. It is the price paid for the insurance policy.

Royalties: Yes. It is the price paid to the person owning the patent for using his or her idea or invention.

Bribe: Yes. It is the price paid to get a work done.

Dues: Yes. It is the remaining amount of fees or fare. So it is also a price.

Salary: Yes. The price paid for the services of the employee to the company according to the employment contract.

Commission: Yes. It is the price paid to the sales persons for the addditional sales. It is calculated as a percentage of the sales.

Wage: Yes . It is the price paid to labourers for their hard work and labour.

Tax: No. Tax is not a price. It is a charge or a contribution made by the citizens of a country to the government.

Thus, among the given options, only tax is not a price.

jeff jeffy answered 2 years ago
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