The Time a Customer Is Willing to Wait Is Often

question 10

Essay

The time a customer is willing to wait is often dictated by the service provided.What is an example of an industry that realizes this and what measures have been taken to decrease wait time? Defend your answer.

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Definitions:

Good Credit Rating

An evaluation made by credit bureaus that suggests a borrower has a high likelihood of repaying borrowed money on time.

Fair Debt Collection Practices Act

A U.S. federal law designed to eliminate abusive, deceptive, and unfair debt collection practices by debt collectors.

Standard Credit Company

A hypothetical or generic name for a company that provides credit services, evaluating creditworthiness and offering loans or credit to individuals and businesses.

Equal Credit Opportunity Act

A U.S. law aimed at granting all individuals a fair opportunity to obtain credit, prohibiting discrimination based on race, color, religion, national origin, sex, marital status, age, or because someone receives public assistance.