Answer:   The full form of CPQ is Configure, Price, Quote. Salesforce CPQ is a managed package that can be installed in any Salesforce instance. CPQ hepls the end user to generate quotes efficiently without any human errors!

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Answer:   A bundle is a sensible combination of goods that are offered for sale as a single quote line item. Products may be sold alone or in combination as a bundle. Product & Price Rules enable extensive logic to be applied to bundles.

Answer:   Price List is used to keep the various pricing for the products according to the business flow. The company typically evaluates each product's pricing and sets it. The Price List in Salesforce will show all of the various pricing.

Answer:   Specific configurations can be enforced either at the bundle level or the quotation level using product rules. Product rules come in four different flavors: validation, selection, alert, and filter.

Validation: Prevents a user from storing a quotation or bundle setting that is incompatible.
Users are alerted to critical information, yet storing the quote is not prevented.

Selection: Based on preset settings, automatically selects, deselects, displays, or hides goods.
Used in dynamic search filters that automatically filter the product catalog is the word \"filter.\"