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Simple English definitions for legal terms
quantity discount
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A quick definition of quantity discount:
A quantity discount is when you get a lower price for buying a lot of something. For example, if you buy 10 shirts instead of just one, you might get a discount on the total price. This is also called a volume discount. It's like a reward for buying more!A more thorough explanation:
Definition: A price decrease offered by a seller based on a large-quantity purchase. This is also known as a volume discount.
Examples:
- A stationery supplier offers a 10% discount on orders of 500 or more pens.
- A clothing manufacturer offers a 20% discount on orders of 100 or more t-shirts.
These examples illustrate how a seller can incentivize buyers to purchase larger quantities by offering a discount. The more the buyer purchases, the greater the discount they receive.