In a Common Form of RFM Analysis,a Score of 1

question 65

True/False

In a common form of RFM analysis,a score of 1 is "high" or "good" while a score of 5 is "low" of "bad".

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Definitions:

Trade-offs

The idea of sacrificing one positive aspect or perk to obtain another that is considered to be more desirable.

Production Possibilities Frontier

A curve depicting the maximum attainable combinations of two products that may be produced with available resources and current technology.

Efficient

Achieving maximum productivity with minimum wasted effort or expense; in economics, an allocation of resources in which it is impossible to make any one individual better off without making someone else worse off.

Inefficient

Refers to a situation where resources are not used in the most effective way, leading to waste or suboptimal outcomes.