Your Team Is Negotiating a Sales Contract with a Potential

question 1

Multiple Choice

Your team is negotiating a sales contract with a potential client.One of your team members says,"I wish we could use some other mode of communication because this one is creating a huge psychological distance between us and our potential clients." Which of the following modes of communication are you using?

• A) face-to-face communication
• B) videoconferencing
• C) computer messaging
• D) telephonic conversation

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Definitions:

Explicit Costs

Directly incurred expenses in the operation of a business, such as wages, rent, and material costs, which are clearly accounted for and easy to identify.

Opportunity Costs

The potential benefits missed out on when choosing one alternative over another.

Explicit Costs

Direct, out-of-pocket payments for goods or services that are made by a business as part of its operations.

Total Economic Costs

The sum of all costs associated with the production of a good or service, including both explicit (direct) costs and implicit (indirect or opportunity) costs.