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Which of the Following Refers to the Physical Presence of the Customer

question 23

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Which of the following refers to the physical presence of the customer in a service system?


Definitions:

Percentage Change

A mathematical calculation that shows how much a quantity has increased or decreased as a proportion of its previous value, usually expressed as a percentage.

Income Elasticity

A measure of how much the demand for a product changes with a change in consumers' income.

Completely Inelastic

A situation in which the demand or supply for a good or service is totally unresponsive to price changes.

Inelastic

Describes a condition where the demand or supply for a good or service is not significantly changed by changes in price.

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