Successful Businesses Constantly Monitor Consumer Wants and Needs

question 232

True/False

Successful businesses constantly monitor consumer wants and needs.

---

Definitions:

Bailee

A person or entity temporarily holding property on behalf of another with a duty to return it.

Reimbursement

The act of compensating someone for an expense or loss they have incurred.

Gratuitous Bailment

A bailment where the bailee (the person receiving the property) does not pay the bailor (the property owner) and holds the property for the benefit of the bailor or a third party.

Intangible Property

Property that is incapable of being apprehended by the senses (such as by sight or touch). Intellectual property is an example of intangible property.