The Increased Use of Technology May Have Positive and Negative

question 27

True/False

The increased use of technology may have positive and negative effects on the perceived service quality provided to retail customers.

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Definitions:

Substitution Effect

refers to the change in consumption patterns due to a change in relative prices, leading consumers to substitute more expensive goods with cheaper alternatives.

Money Income

The total amount of monetary earnings or receipts accruing to an individual or household within a specified period.

Demand Change

Variations in the quantity of a product that consumers are willing and able to purchase at various price levels over a period.

First Class

Describes the highest quality or most expensive service, accommodation, or means of transportation available.