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    Question

    In principle, all goods and services are valued at _______, that is, inclusive of all taxes.

    A market price Correct Answer Incorrect Answer
    B production volume Correct Answer Incorrect Answer
    C consumer preference Correct Answer Incorrect Answer
    D sales volume Correct Answer Incorrect Answer

    Solution

    Commodity valuation follows the classical economic principle of arriving at a price by studying the intersection of the demand and supply curves of a good, which is also called the break-even point. Therefore, all goods and services are valued at market price, inclusive of all taxes, at least in principle.

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