Customers Who Shop on Amazon Find It Helpful to Read

question 276

Multiple Choice

Customers who shop on Amazon find it helpful to read the customer reviews associated with products that others have purchased. After making a purchase, the customer can go to Amazon's website and post his/her opinion of the product recently purchased. This strategy not only assists other customers with their decision making, it helps Amazon react more quickly to the performance of the products it sells. Which of the following statements attests to the value of this service?

• A) This action provides for complete transparency of company financial performance.
• B) This action supports a key criterion of the control function: the measurement of customer satisfaction.
• C) This action provides for better tactical planning, particularly the budgeting process.
• D) This action supports the premise of recruiting, hiring, and motivating the employees who believe in social media and other ways to reach customers.

Comprehend the effects of government interventions such as price floors and price ceilings on market equilibrium.

Analyze how external factors influence supply and demand, leading to changes in market conditions.

Recognize the outcomes of shifts in supply and demand on equilibrium price and quantity.

Grasp the concept of shortages and surpluses and their impact on market dynamics.

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Definitions:

Heredity

The genetic transmission of characteristics from parent to offspring.

Personality

The mix of traits or attributes that creates a person's unique personality.

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A group of monkeys of the genus Macaca, known for their adaptability to various environments and often used in scientific research.

Foster Mother

A woman who takes care of a child placed in her home by a welfare agency, but is not the child's biological or adoptive mother.