Income-based Pricing

Income-based pricing is a strategy where the cost of a product or service varies according to a customer's income level. This approach aims to make offerings more affordable for individuals with lower incomes by adjusting prices accordingly. It helps ensure that essential goods, services, or benefits are accessible to a broader range of people, promoting equity. For example, some utilities, insurance plans, or educational programs might have sliding-scale fees based on income, enabling those with less financial resources to access needed services without undue hardship.