Bible Question: Are there any Bible verses that would direct an entrepreneur in a home based business to determine what percentage would be considered to be a reasonably ethical mark-up on merchandise? |
Bible Answer: Hey, this really is an easy one: Except the "bible verse" is illusive in this case. What ever the market will bare. Charge the largest mark-up you can. Exceptions: when the welfare of others is greatly dependant on your product-service which they are unable to acquire from any other place. Example: A terrible storm hits, so you sell water for 10 dollars a bottle. You own a "Cash Store" (and can still sleep at night) and charge the poorest of the poor 500 percent to borrow money for two days. Obviously your regenerate heart should know if your violating "Loving your neighbor" but in 99 percent of cases, a business should charge what the market will pay. In any free market system, the market will drive prices. MJH |