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Tuition > Learn Tuition > What is the diffence between Price and Cost?
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What is the diffence between Price and Cost?

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Mathswiz (Expert maths teacher)

Price is the amount a customer pays to purchase a product. Cost is the amount of money spent in producing the product. The difference between Price and Cost, if positive, gives a PROFIT and if negative, creates a LOSS.
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price is for customer and cost is for producer or seller
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Cost is the expense that a business incurs in bringing a product or service to market. Price is the amount a customer pays for that product or service
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Price is the amount which customer pays to purchase a product and cost is the amount of money spent of producing the product
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Price is what a buyer pays for a buying a product or service. The buyer can be end customer or an intermediary, like retailer, wholesaler or distributor buying it to sell further. Cost is the expenditure, directly or indirectly incurred by the seller of a product or service. The seller can be the...
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Price is what a buyer pays for a buying a product or service. The buyer can be end customer or an intermediary, like retailer, wholesaler or distributor buying it to sell further. Cost is the expenditure, directly or indirectly incurred by the seller of a product or service. The seller can be the manufacturer, service provider or an intermediary in sales process. read less
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Price is what a customer pay for a service or product while cost is price minus profit.
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Result oriented teacher

Cost is the expense that a business incurs in bringing a product or service to market. Price is the amount a customer pays for that product or service. The difference between the price that is paid and the cost that is incurred is the profit the business makes when the item sells.
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Hindi tutor

Price is the original value of the product at which it is manufactured. Cost is the value at which the product is sold and cost includes all other costs as labour etc.
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Yohan

price is amount which is paid by the customer to the product and cost is the amount which is paid to produce the product
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Price = Cost / demand. Cost you all know is total of variable plus fixed costs in producing a product or providing a service. Price is what the demand demands or It may be the amount customer is willing to pay. A smartphone can be sold at any price if demand is higher .Suppose when there will be...
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Price = Cost / demand. Cost you all know is total of variable plus fixed costs in producing a product or providing a service. Price is what the demand demands or It may be the amount customer is willing to pay. A smartphone can be sold at any price if demand is higher .Suppose when there will be scarcity of water on earth then it will be sold at 10,000 rs a bottle. So price is demand driven & demand is either created by self due to higher consumption or invoked in consumers mind. read less
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