Each of the Following Is an Example of How Services

question 80

Multiple Choice

Each of the following is an example of how services to consumers are adding dimensions of authenticity EXCEPT:

• A)Nike's customization service, NIKEiD.com, allows customers to design shoes according to their exact preferences.
• B)Progressive Insurance sends "Immediate Response Vehicles" to the site of an accident so that an adjuster can handle emergencies.
• C)An increase in automated bank machines (ABMs), kiosks, and credit card readers.
• D)Retailers providing dressing rooms large enough for friends and electronic mirrors that allow texting anyone whose opinion might be neede

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Definitions:

Firm's Output

The total quantity of goods and services produced by a company over a particular period.

Perfectly Inelastic Supply Curve

A perfectly vertical supply curve; quantity supplied remains constant no matter what happens to price.

Elastic

A characteristic of a good or service with a demand or supply that significantly changes in response to price changes.

Buyer

An individual or entity that purchases goods or services for personal use, resale, or to incorporate into the production of other goods.