When the Fees Charged to the Client Vary Depending on the Results

question 9

Multiple Choice

When the fees charged to the client vary depending on the results of the representation-for example, whether a lawsuit is lost, won, or settled-it is called:

• A)Fee splitting
• B)Double billing
• C)Value billing
• D)Task-based billing

Recognize the impact of personal selling on customer relationships.

Understand the career paths and responsibilities in sales.

Know the motivations behind choosing a sales career.

Understand the importance and process of product presentation and closing sales.

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Definitions:

Equilibrium Price

The price at which the quantity of a good supplied equals the quantity demanded, achieving market balance.

Buyers

Individuals or entities that purchase goods or services for consumption or investment.

Sellers

Individuals or entities that offer goods or services for sale to potential buyers in a marketplace.

Input Price

The cost associated with purchasing the raw materials, labor, and other resources required to produce goods and services.