Examlex
Before meeting a new client,a salesperson visualizes the experience of meeting the person and effectively answering some of the challenging questions the client might ask.This activity is an example of:
Marginal Benefit
The enhancement in satisfaction or benefit achieved by using or producing another unit of a product or service.
External Costs
Costs of an economic activity that are not borne by the participants in the activity but are imposed on others, such as pollution.
Competitive Free Market
A market structure where many firms offer products or services that are similar, allowing for free entry and exit, with prices determined by supply and demand forces.
Marginal External Cost
The cost imposed on a third party not involved in a transaction or activity due to an additional unit of production.
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