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Base point pricing is the system of firms setting prices of their goods based on a base cost plus transportation costs to a given market. [1] Although some consider this a form of collusion between the selling firms (it lowers the ability of buying firms to gain a competitive advantage by location or private transportation), it is common practice in the steel and automotive industries.
The quoted price includes the freight fees from the basing point closest to the customer (not necessarily being the place the product is actually shipped from). The well-known example was the "Pittsburgh-plus" scheme, where all steel deliveries in the US were priced as if the shipment originated in Pittsburgh, even as the steel manufacturing ...
Generally, minimum fluid farm milk prices increase according to the distance from the basing point. When federal milk marketing orders began in the 1930s, Eau Claire, Wisconsin was viewed as the principal surplus milk production region in the nation and hence served as the basing point for most milk priced under federal milk marketing orders.
Base point pricing; Bayesian-optimal pricing; ... Price book; Price ceiling; ... State prices; Statute of Labourers 1351;
The price of a product or service is defined as cost plus profit, whereas cost can be broken down further into direct cost and indirect cost. [1] As a business has virtually no influence on indirect cost, a cost reduction oriented cost breakdown analysis focuses rather on factors contributing to direct cost.
A price system may be either a regulated price system (such as a fixed price system) where prices are administered by an authority, or it may be a free price system (such as a market system) where prices are left to float "freely" as determined by supply and demand without the intervention of an authority. A mixed price system involves a ...
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Prices may be viewed only as a kind of data, information, or a type of knowledge, or the information available about a money quantity may be equated with the "real thing" (in the Austrian school of economics, prices are often regarded as data and as information, or as representing information, although admittedly market actors do not ...