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A Genuine Concern for Customer Needs and Customer Satisfaction Can

question 103

True/False

A genuine concern for customer needs and customer satisfaction can assist the TQM efforts of a small business.


Definitions:

Supplier

An entity that provides goods or services, typically in exchange for payment.

Revenue

The total income generated by a firm from its business activities, typically from the sale of goods and services to customers.

Midpoint Method

A technique used in economics to calculate the elasticity of demand or supply by using the average of the initial and final quantities and prices.

Price Elasticity

A measure in economics indicating how the quantity demanded of a good or service changes in response to a change in its price.

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