2. CONSIDERATION
A consideration is something in return for something given.
This something is called consideration.
For example:
A makes a contract to sell his watch to B for 1000Rs.for A
1000Rs/- is consideration and for B car is consideration.
3. COSIDERATION COST
The money and resources required to finish the project. This
includes equipment, people, and materials. Usually, the customer
wants the project at the lowest cost possible. Usually, the customer
wants the project at the lowest cost possible. Plus, the budget for the
project is approved based on the scope and schedule
4. One of the most important areas of policy management relates
to pricing an organization's product or service. Pricing policies
heavily influence cost considerations.
Creating a price point that brings a healthy profit to the bottom
line without compromising ethics or quality is the ultimate goal.
5. TERMS USED TO DESCRIBE
PRICE/VALUE
Tuition
Fine
Fee
Fare
Rent
Dues deposit tips
Intrest
taxes
6. COSTS
Private cost: it reflects the private choices and decisions of the
owners and operators.
Broader cost : be very expensive; cost a lot. It's as broad as it is
long exp. Used to express that it is impossible to decide between two
options because they're equal.
7. OPPORTUNITY COST
“Opportunity cost is the value of the next-best alternative
when a decision is made; it's what is given up,”
Another words for opportunity cost :
cost of capital, carrying cost,
capital cost, carrying charge.
