Answer: cost plus approach
Explanation: In simple words, it refers to a pricing strategy under which the producing firm adds up a predetermined specific margin to the total cost to compute the selling price.
This approach is considered to be less troubling as it is easy to ascertain the selling price and also it makes accounts recording and book keeping more effective and simple.
Usually such method is used for Procrustes that are sold to the final customers in single piece and not in a batch for example - a soap, a chocolate etc. other commodities such as computer parts etc are generally not priced according to this strategy.
