Question
Download Solution PDFThe rate of an item at the store godowns from public market at a given time is called the _________.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFExplanation:
Market Rate:
- The market rate is defined as the usual price charged for goods and services in the free market. Or in other words, if any product (commodity) buy and sold at any price in the open market (public market) is called the market rate of goods (commodity).
Item Rate:
- Item rate is defined as the price of a particular commodity or service.
Storage Rate:
- Storage rate is defined as the price of a commodity that can be bought in huge quantities at less than the market rate and stored. Or in other words Storage rate is defined as the price of a commodity that can be bought and stored in large quantities at a lower than the market rate.
Current Rate:
- The current rate is defined as the last recent price of goods or services that have been bought or sold.
Last updated on May 28, 2025
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