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Determination of prices in the framework of the Organic Law of Fair Prices in Venezuela

Author

Listed:
  • Marysela Coromoto Morillo Moreno

    (Doctora en Ciencias Económicas y Empresariales de la Universidad de La Laguna España. Departamento de Contabilidad y Finanzas. Facultad de Ciencias Económicas y Sociales. Universidad de Los Andes. Mérida. Venezuela. Teléfonos: +58-2742401042 - +58- 0416 -3700695.)

  • Milángela Del Carmen Morillo Moreno

    (Magister en Scientiae en Administración del Centro de Investigaciones y Desarrollo Empresarial. Universidad de Los Andes, Mérida, Venezuela.)

Abstract

In the decisions of price fi xing there are quantitative and qualitative factors; out of which the fi rst to stand out is the level of costs. In Venezuela, after validation and application of the Organic Law of Fair Price, it is fi t to refl ect upon the foreseen procedures in the legal norm for the determination of prices in the spotlight of methodology and accounting procedures. It was discovered that in the country, maximum price se# ing was based on the level of costs whilst the levels of producer and importer only had a part of their cost structure recognized; this generates that a margin of benefi t between 20 and 30 percent is not actually obtained as a respective margin of maximum benefi t.

Suggested Citation

  • Marysela Coromoto Morillo Moreno & Milángela Del Carmen Morillo Moreno, 2017. "Determination of prices in the framework of the Organic Law of Fair Prices in Venezuela," Economía, Instituto de Investigaciones Económicas y Sociales (IIES). Facultad de Ciencias Económicas y Sociales. Universidad de Los Andes. Mérida, Venezuela, vol. 42(43), pages 141-174, January-J.
    • Handle: RePEc:ula:econom:v:42:y:2017:i:43:p:141-174
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    More about this item

    Keywords

    Costs; prices; accounting; legislation.;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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