What Should Be Done When Granting Claims and Requests for Adjustment

question 87

Multiple Choice

What should be done when granting claims and requests for adjustment when your company is at fault?

• A)You should specifically assign blame to someone else in the organization.
• B)You should take steps to repair the relationship.
• C)You should start with the assumption that the information the customer provided is incorrect.
• D)You should imply that the customer is at fault but you are willing to help anyway.
• E)You should avoid taking or assigning personal responsibility for setting matters straight.

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Definitions:

Surplus

Occurs when the quantity of a good or service supplied exceeds the quantity demanded at a specific price, often leading to lower prices.

Price Ceiling

A legal maximum price that can be charged for a good or service, typically set by government to prevent prices from becoming too high.

Price Floor

A government or regulatory-imposed minimum price set above the equilibrium market price, aimed at ensuring that the market price of a good or service cannot fall below a certain level.

Shortage

A market condition where the demand for a product exceeds the supply at a given price, often leading to higher prices.