All of the Following Reduce the Transaction Costs for Consumers

question 279

Multiple Choice

All of the following reduce the transaction costs for consumers EXCEPT

• A)eBay.
• B)a shopping mall.
• C)the Supreme Court decisions regarding the Second Amendment.
• D)a grocery store.

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Definitions:

Empathy

The ability to understand and share the feelings of another, essential in building effective interpersonal relationships and crucial in service-oriented industries for understanding customer needs.

Tangibles

Physical items or goods that can be seen, touched, and possessed, as opposed to services or digital products.

Knowledge Gap

A type of service gap; reflects the difference between customers’ expectations and the firm’s perception of those expectations.

Service Standards

Benchmarks for the quality of customer service that organizations aim to meet or exceed in their operations.