reasonable price definition

reasonable price

Commercial decision reached jointly between a buyer and seller, reflecting a judgment influenced by the economic realities of the marketplace and the relative bargaining powers of the parties. Generally, it is high enough to cover the seller's costs and a reasonable margin, but not high enough for the seller to realize monopolistic profit.

Price that provides the best total value—comprising of availability, delivery time, fitness for purpose, payment terms, quality, quantity, and service. A reasonable price is not necessarily the lowest price.

reasonable price is in the Accounting & Auditing, Advertising, Marketing, & Sales and Purchasing & Procurement subjects.

reasonable price appears in the definitions of the following terms: open ended question and orderly sale

reasonable price appears in the other term: fair and reasonable price

This content can be found on the following page:

http://www.businessdictionary.com/definition/reasonable-price.html