The Difference Between What Customers Are Willing to Pay for a Firm's

question 62

Multiple Choice

The difference between what customers are willing to pay for a firm's products or services and the full economic cost of these products or services is the

• A)value proposition.
• B)cost advantage.
• C)economic value.
• D)competitive advantage.

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Definitions:

Primitive Side

Primitive Side refers to the basic or instinctual part of human nature, often associated with innate drives, behaviors, or reactions that derive from our ancestral or evolutionary past.

Personality

Personality is the combination of thoughts, emotion patterns, and behaviors uniquely exhibited by an individual, distinguishing one person from another.

Source Traits

The more basic traits that underlie the surface traits, forming the core of personality.

Raymond Cattell

A British and American psychologist known for his psychometric research into intrapersonal psychological structure and the influential 16 personality factors model.