Final answer:
The price of a service is typically discussed during the initial consultation or engagement phase before the service is provided. An example includes Aaron's Word Processing Service, where the price is $32 per hour plus a $31.50 one-time charge. Additionally, service providers must consider the law of demand when setting prices.
Step-by-step explanation:
The price of the service is usually discussed during the initial consultation or engagement phase of the service. This is when the service provider and the customer agree on the scope and cost of the service to be provided. For instance, in the example of Aaron's Word Processing Service, the price is $32 per hour with a $31.50 one-time charge, which would be communicated to the customer before service commences.
Understanding the law of demand is also essential in discussing service prices. According to this economic principle, if the price of a service rises, the quantity demanded generally decreases, and vice versa. Service providers must be aware of this when setting their prices to ensure they meet the customer's expectations and that the price reflects the value of the service provided.