When John Checked into His Orlando Hotel,the Front Desk Clerk

question 23

Multiple Choice

When John checked into his Orlando hotel,the front desk clerk informed John that his room would not be ready for another 20 minutes.John didn't mind waiting; he had arrived well ahead of the standard check-in time and this wait time fell within his __________,the area between his expectations regarding desired service and the minimum level of service he will accept.

• A) zone of tolerance
• B) delivery gap
• C) zone of intolerance
• D) service gap
• E) patience zone

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Definitions:

Price

The amount of money required to purchase a good or service.

Comparative Advantage

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than other producers.

Absolute Advantage

Refers to the capability of an entity to produce a good or service more efficiently than its competitors using the same amount of resources.

Opportunity Cost

The cost of missing out on the next best alternative when making a decision.