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GMAC is a not for profit organization. It is private but it’s not commercial.
I do have to say this is the strangest comment I’ve seen here for a while about someone wishing GMAT was run by the government.... Things are not usually cheaper than they are run by the government but they could be subsidized which means someone else is paying for it. The only way to drive the price down is to bring in more competition which is what GRE is doing and you’re welcome to take the GRE.
Honestly, I don't even know whether GMAC is what type of organization. To me, the exam is a gateway to what I want to achieve in life. For example, in India, CAT is conducted by IIMs and that essentially means conducted by Government. Does that mean it is good or bad for students? Who cares. For a serious test taker, s/he just needs smooth exam experience. And by the way CAT prices are subsided based on your caste (lol Yes, Sorry but we are India) because it is essentially run by the government.
Moral of the story. It's fine. That's how most of the things operate anyway. To a serious test taker, it won't matter.
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PS. I’m not defending their price increase especially since GRE is about half the price of the GMAT but increasing a price by 10% in 10 - 15 years is not even keeping up with inflation. They would have to raise the price by 30-40% to keep up with inflation.
I agree to this part. 10% increase in 10-15 years is not even covering the inflation. For example, I came to know yesterday that Fed tax per gallon of gas in US is 18c$. The problem is that number was introduced in 1993 (
) so it essentially equates to 11c$ of today.
P.S: I am basically typing random things today so I will just go offline until evening. lol.