Friends, whenever we go for shopping in a shop and see a product, then the MRP price of that product falls in our eyes. With which we get to know the value of that product. But do you know what is the full form of MRP and why is this mrp applied? If you do not know, then after reading this article, you will come to know the full form of MRP and complete information about MRP.
Sometimes we see that the price of a product is taken less than its MRP price, so do the shops selling their product in loss? Let us know what is this MRP. To get information about MRP, first we need to know about its full form, so let's first know what is the full form of MRP.
What is the full form of MRP?
The full form of MRP is Maximum Retail Price. This is the maximum retail price. As the full form shows the mrp price of a product is the maximum price of that product. No shopkeeper can take more price from a customer for that product. If a shopkeeper takes the price of a product more than its mrp price, then it would be illegal activity or it is illegal.
Who decides Mrp price?
MRP price of any product depends on the producer of that product. When a product is made, only the person making the product pays the MRP price. It is illegal for a shopkeeper or wholesaler to price a product more than its MRP price, because the time to buy the MRP of any product is from wholesaler to shopkeeper's profit, producer's cost profit, moving the product from a jug to your shop. This MRP price is made by taking the expenses, along with the tax of that product.
Advantages and disadvantages of MRP price -
One benefit of printing MRP price above any product is that no shopkeeper can charge more from his customer. MRP prices protect the customer. But there is also a disadvantage of this MRP because when a shopkeeper has to bring a product from far away, then the cost of that shopkeeper is high and if he sells that product in MRP price then he may get a loss.
Friends, all information about MRP has been shared on this article i hope you have came to know what is the full form of MRP. If you like this article, then share it with others so that everyone can easily get information about this MRP price.
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