For a Customer,quality May Comprise of Variables Such as Service

question 45

True/False

For a customer,quality may comprise of variables such as service and appearance.

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Definitions:

FICA Tax

A U.S. federal payroll tax that funds Social Security and Medicare, contributions are made by both employees and employers.

Burden Falls

An economic term referring to how the costs or economic burdens of a policy, tax, or regulation are distributed among various stakeholders.

Elastic

Elastic, in economics, refers to a situation where the quantity demanded or supplied of a good or service significantly changes in response to changes in price.

Inelastic

A characteristic of a good or service whose demand doesn't significantly change when its price changes.