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Fair Price - A fair price or a fair value pertains to the a given good or service that has been determined by a reasonable and non-prejudicial means. This idea is one that is used by financial and economic related areas. And such a price will include various aspects of an item or service. This can involve the cost for things like distribution or other matter related to the product. Also factored into this information as the need for the product verses its availability. The purpose of establishing this price is to be sure it can be used for determining its worth as an asset or possible liability. |
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