The Ability to Consistently Perform a Service Well Is Referred

question 12

Multiple Choice

The ability to consistently perform a service well is referred to as service____________ .

• A) reliability
• B) assurance
• C) responsiveness
• D) tangibility
• E) durability

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Definitions:

Trade

The exchange of goods and services between individuals or entities, either within the same country or internationally.

Budget Line

A graphical representation showing all possible combinations of two goods that can be purchased given a consumer's income and the prices of the goods.

Price

The sum of money anticipated, needed, or provided as payment for an item.

Shift Outward

An economic term referring to the expansion of a production possibility frontier, indicating an increase in an economy's capacity to produce.