Scott Works at a Job Where He Is Paid a Salary

question 42

Multiple Choice

Scott works at a job where he is paid a salary every two weeks. Scott is being reinforced on a ________ schedule.

• A) variable-ratio
• B) fixed-ratio
• C) variable-interval
• D) fixed-interval

Identify effective strategies for building rapport with customers.

Grasp the centrality of customer needs in achieving long-term success in professional sales.

Understand various closing techniques and their appropriate applications.

Recognize the importance of matching product features, advantages, and benefits (FAB) to customer needs.

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Definitions:

Perfect Competition

A market structure characterized by many buyers and sellers, identical products, and no barriers to entry or exit.

Zero Economic Profits

A situation in perfect competition where firms earn just enough revenue to cover all their costs, including opportunity costs, indicating no supernormal profit above the normal rate of return.

Long-Run Equilibriums

A state in which all factors of production and market forces are balanced and economic variables are not expected to change.

Implicit And Explicit Costs

Implicit costs are the opportunity costs of using resources that a firm already owns, while explicit costs are direct payment outflows for purchasing productive resources.