The Age of Information Has Ushered in a Series of Initiatives

question 68

Multiple Choice

The age of information has ushered in a series of initiatives that affect the daily work of salespeople.One of these developments is that salespeople are spending more time monitoring:

• A)customer expectations.
• B)customer service.
• C)customer satisfaction.
• D)suggestion selling.
• E)call reports.

---

Definitions:

Factor of Production

An input used in the production of goods or services, such as labor, capital, land, or entrepreneurship.

Input

Resources such as labor, materials, and capital used in the production of goods and services.

Backward-Bending

Refers to a labor supply curve that bends backwards at higher wage rates, indicating that higher wages can lead to less labor supplied due to increased leisure preference.

Substitution Effect

A change in consumption patterns due to a change in the relative prices of goods, leading consumers to substitute one good for another.