The ________ Is a National Measure of Satisfaction with Quality

question 80

Multiple Choice

The ________ is a national measure of satisfaction with quality that provides a resource for examining the differences in satisfaction among customers of different industries by their demographic and socioeconomic characteristics.

• A) Arbitron Rating Index
• B) American Customer Satisfaction Index
• C) Nielsen panel Index
• D) American Regulated Index
• E) J. D. Power Loyalty Index

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Definitions:

Substitution Effect

The alteration in the consumption of goods as a result of changes in their relative prices, leading consumers to substitute more expensive items with cheaper alternatives.

Output Effect

The change in total revenue resulting from selling additional units due to a price decrease, in the context of price elasticity of demand.

Income Effect

A change in the quantity demanded of a product that results from the change in real income (purchasing power) caused by a change in the product’s price.

Wage Rate

The amount of compensation offered to an employee per unit of time (e.g., hourly, daily) or piece of work done.