What is referred to as the price at which a product is sold?

The price at which a product is sold is commonly referred to as the retail price. This term specifically describes the final price that consumers pay for goods in a retail environment, incorporating factors like markup on the cost price, competition, and market demand. The retail price is crucial for businesses as it directly affects sales volume and profitability.

In contrast, unit sales pricing focuses more on the pricing per unit sold rather than the overall retail price, which may not encompass all elements involved in retail sale pricing. Cost price indicates the amount paid by the seller to procure the product, which is different from the selling price. Market price typically refers to the prevailing price in the market based on supply and demand, but may not reflect the specific selling price used at retail locations.