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meriva
4 years ago
11

A buyer always wants to pay a price that is as _____ as possible, but never _____ than the buyer's willingness to pay.

Business
1 answer:
Vlad1618 [11]4 years ago
3 0

Answer: low: higher

Explanation:

<em>A buyer always wants to pay a price that is as </em><em><u>low</u></em><em> as possible, but never </em><em><u>higher</u></em><em> than the buyer's willingness to pay.</em>

As a way to save costs, a buyer will always seek to pay the lowest price they can possibly pay for a good or service. This is why some buyers negotiate prices and seek trade discounts.

Buyers will however have in mind a maximum price that they would be willing to pay. This is called their willingness to pay and it is a threshold that they would not want to exceed. If a good's price is higher than their willingness to pay, they will not buy the good.

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