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Name two things other than the 5 C’s that can affect pricing

User Kirti
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Final answer:

Two factors that can affect pricing other than the 5 C's are changes in weather or climate and government policies. These have direct impacts on the cost of production and can lead to higher or lower prices of goods and services.

Step-by-step explanation:

While the 5 C's (cost, competition, condition, consumer demand, and commodity value) play a significant role in pricing, other factors also influence pricing decisions for products and services. Two crucial factors other than the 5 C's include changes in weather or climate and government policies.

For instance, changes in weather or climate can significantly affect the cost of production, especially for agricultural products. A bad weather year can reduce crop yields, increase costs due to the need for more irrigation or pest control, and therefore, can drive up the prices of the affected products. On the other hand, technological advancements in production can improve efficiency and lower costs, potentially reducing prices.

Moreover, government policies, such as taxes, subsidies, or regulations, can affect the cost of production and supply. For example, a subsidy on renewable energy might lower the cost of production for producers using that technology, while regulations and taxes can increase costs and subsequently prices.

User FFox
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