*Determination of prices (with an accounting and marketing approach): *Discuss the importance of pricing decisions to the economy and to the individual firm *List and explain a variety of pricing objectives *Explain the role of demand in price determination *Understand the concept of yield management systems *Describe cost-oriented pricing strategies *Demonstrate how the product life cycle, competition, distribution and promotion strategies, guaranteed price matching, customer demands, the Internet, and perceptions of quality can affect price