What is the diffence between Price and Cost?

Asked by Last Modified  

26 Answers

Follow 0
Answer

Please enter your answer

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.
Comments

Price is what a customer pay for a service or product while cost is price minus profit.
Comments

price is for customer and cost is for producer or seller
Comments

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.
Comments

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...
read more
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
Comments

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
Comments

Price is the amount which customer pays to purchase a product and cost is the amount of money spent of producing the product
Comments

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.
Comments

Price = Cost + Profit. Price is what a customer is willing to pay for purchase of the product. Cost means the Total cost for making the products. Price include Profit but cost dosen't include Profit.
Comments

Computer wizard, good at languages, expert in south indian dishes,expert in typing,ready to take classes for KG to 8 th standard, diploma in mechanical,electrical,automobile, B.tech - computers, electronics, business analysis, manual testing.

Price includes taxes and incurred value to produce the product but cost is the amount to manufacture it.
Comments

View 24 more Answers

Related Questions

Will this online tuition classes help me to upgrade myself??
Yes, it will surely help you. You must be equipped with online tools to teach the lessons as well as it increases your pro-score. Also to get a higher ranking, and to reach children easily, it is the best method.
Profile Photo
Debadyuti
WHAT IS MEANING OF PROFFESSIONAL
engaged in a specified activity as one's main paid occupation rather than as an amateur.
Profile Photo
Someswara
"उपार्जितवान्" explain the pratyaya ?
उप उपसर्ग पूर्वक अर्ज धातो: क्तवतु प्रत्यय
Profile Photo
Renu

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

Accounting Policies
Definition: Accounting Policies refer to specific accounting principles and applying those principles adopted by the enterprise in the preparation and presentation of Financial Statements. Need for...
Profile Photo


Is Economics Only Dy/Dx Or A Difference Equation Or Something More That Require In Depth Anaysis?
Basic Econmics Thinking: II Economics underwent dramatic changes in 1920's & 1930's. Economics became more analytical & quantitative with the advent of Micro & Macroeconomics, with well developed...
Profile Photo

Corporate Challenges Of A Finance Professional Today: How to face it?
Dear Corporate Professionals, Past few decades the Global financial services industry and the accounting profession have undergone a sea change with the rapid globalization of economy where Financial...
Profile Photo

Most valuable learning tip - Keep mind fresh!
Before sitting to read, keep your mind fresh. Remove all unnecessary thoughts. Then only things will get register in mind!! All the best..
C

Ca. Cs. Mitali Trivedi

0 0
View Comments0

Recommended Articles

While schools provide formal education to the children, the home is where they start learning about things informally. Parents think that schools will take the initiative to educate their children. Well, this is partially true, as parents also play an essential role in bringing up their child. For the development of particular...

Read full article >

With the mushrooming of international and private schools, it may seem that the education system of India is healthy. In reality, only 29% of children are sent to the private schools, while the remaining head for government or state funded education. So, to check the reality of Indian education system it is better to look...

Read full article >

Learning for every child starts from a very young age. While the formal methods include school curriculums and private lessons, the informal methods include dancing, music, drawing, and various fun-filling activities. Playing games and practising these types of activities helps the children get out of boredom and...

Read full article >

E-learning is not just about delivering lessons online. It has a much broader scope that goes beyond manual paper or PowerPoint Presentations. To understand the reach of E-learning and how the whole process works in developing the Educational system, we will discuss a few points here. Let us find out how this new learning...

Read full article >

Looking for Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you