Firms That Have Strong Positive Relationships with Suppliers and Customers

question 92

Multiple Choice

Firms that have strong positive relationships with suppliers and customers are said to have __________, an essential ingredient to creating value.

• A) customer value
• B) social capital
• C) effective marketing
• D) an attractive industry

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Definitions:

Income Classes

Categories of individuals or households distinguished by levels of income, such as low, middle, and high income.

Marginal Utility

The surplus satisfaction or benefit gained by consuming another unit of a good or service.

Total Utility

The overall satisfaction or value that a consumer derives from consuming a particular quantity of goods and services.

Income Redistribution

Economic policies or mechanisms aimed at leveling the distribution of wealth or income in a society by transferring money from the richer sections to the poorer ones.