Pricing

When we did the pricing lesson on Virtual Business we learned the process of how to calculate the price on a desired amount and find out the margin based on the sales of our desired price for goods.  How to make the most money by analyzing the margin and adjusting it to the most satisfying way.  The relationship between price, demand, and profits.  Last to lower the price and raise it so they can compete with other competitors. We also learned some math equations and key terms that helped calculate the price, margin, markup, and markdown that helped us get a better understanding of pricing.  From lesson two I feel that I understand how to price products and how to get the maximum margin by adjusting the price.