Sales Opportunities in the Service Sector Are Most Likely Expanding

question 11

Multiple Choice

Sales opportunities in the service sector are most likely expanding because:

• A)service providers connect directly with consumers
• B)the service industry has a higher growth rate than does the product industry
• C)modern consumers need help with activities that they used to be able to do on their own
• D)the service industry is starting to saturate the market relative to the industrial and product industries
• E)the service industry provides a higher commission rate for salespeople than other industries

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Definitions:

Efficient Level

An optimal point where resources are utilized in the most productive manner without waste, achieving the best outcome.

Positive Externality

A beneficial effect experienced by a third party as a result of an economic transaction or activity between others.

Negative Externality

A cost that affects a party who did not choose to incur that cost, often a byproduct of production or consumption.

Public Good

A good that is non-excludable and non-rivalrous, meaning individuals cannot be effectively excluded from its use and one person's use does not reduce availability to others.