Why Would Survey Research Be a Better Approach Than Observation

question 86

Essay

Why would survey research be a better approach than observation research when attempting to assess customer satisfaction?

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Definitions:

Economic Profit

The total revenue from operations minus both the explicit and implicit costs; it's a measure of profitability factoring opportunity costs.

Accounting Profit

The net income a company reports on its financial statements, calculated as total revenues minus explicit costs of doing business.

Marginal Cost

The additional cost incurred by producing one more unit of a good or service.

Marginal Benefit

The additional benefit derived from producing one more unit of a good or service.