Labor Productivity Depends on the

question 12

Multiple Choice

Labor productivity depends on the

• A)the effectiveness of government
• B)the size of the economy
• C)the proportion of the labor force that is unionized
• D)the amount of capital
• E)All of the answers are correct

---

Definitions:

Odd Pricing

A pricing strategy that sets prices at figures ending in odd numbers, like $4.99, under the belief that they seem lower to consumers.

Seven-Step Sales Process

A sequence of steps salespeople follow to sell a product, typically including preparation, approach, presentation, handling objections, closing, and follow-up.

Penetration Pricing

A pricing strategy that involves setting lower than normal prices for a new product or service to attract customers away from competitors.

Profitability Objectives

Common objectives included in the strategic plans of most companies.