There Are Six Major Obstacles That Face Management in Their

question 1

Multiple Choice

There are six major obstacles that face management in their efforts to implement a yield management system. Which of the following was not listed as one of the six obstacles?

• A) It is extremely expensive.
• B) Lack of creativity.
• C) Conflict between sales and service.
• D) Targeting the wrong customers.
• E) Rewarding the wrong behavior.

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Definitions:

Price Ceiling

A government-imposed limit on how high a price is charged for a product, service, or commodity, intended to protect consumers from high prices.

Persistent Shortage

A situation where the demand for a good or service consistently exceeds its supply, over a significant period of time.

Deadweight Loss

The loss of economic efficiency when the equilibrium for a good or a service is not achieved or is not achievable.

Rent Control

A government policy or law that sets a maximum price landlords can charge for rent.