Which concept refers to the value or worth of something?

Which concept refers to the value or worth of something?

• A. Market
• B. Price
• C. Product
• D. Promotion

Answer: (B)

Price represents the monetary value assigned to a good or service. It shows how much buyers pay and how much sellers ask, making it the clearest measure of worth expressed in currency. While value can include usefulness, quality, and personal benefit, price translates that overall worth into a specific amount of money. The other concepts describe different ideas: a market is the place or system where trade happens, a product is the item itself, and promotion is a marketing activity to communicate and persuade.

Price represents the monetary value assigned to a good or service. It shows how much buyers pay and how much sellers ask, making it the clearest measure of worth expressed in currency. While value can include usefulness, quality, and personal benefit, price translates that overall worth into a specific amount of money. The other concepts describe different ideas: a market is the place or system where trade happens, a product is the item itself, and promotion is a marketing activity to communicate and persuade.