For Service Companies,in Contrast,customer Behavior Determines the Quantity of Demands

question 59

True/False

For service companies,in contrast,customer behavior determines the quantity of demands for organizational resources that produce and deliver the service to customers.

---

Definitions:

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded by consumers in a given time period.

Supply Curve

A supply curve graphically represents the relationship between the price of a good and the quantity of the good that suppliers are willing to sell, typically showing a direct relationship where higher prices incentivize higher supply.

Wage Rate

The amount paid to an employee per unit of time (e.g., per hour or year) for their labor.

Production Function

A mathematical model in economics that describes the relationship between inputs and the maximum output of goods or services produced.