One Strategy Guaranteed to Displease Your Customers Is To

question 77

Multiple Choice

One strategy guaranteed to displease your customers is to:

• A) provide a quality product at only a fair price.
• B)focus on cost and quality control systems within your organization.
• C) practice deception regarding product safety issues.
• D) shift the production of goods to foreign facilities and layoff U.S. workers.

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Definitions:

Demand

The desire and ability of consumers to purchase goods or services at a given price.

Supply

The total amount of a specific good or service that is available to consumers in a market at a given time and price.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, leading to a state of market balance.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices.