Because of the Intangible Nature of Services,consumers Often Perceive Price

question 113

Multiple Choice

Because of the intangible nature of services,consumers often perceive price as a possible indicator of the ________ of the service.

• A)profit or ROI
• B)customer value
• C)quality
• D)target market
• E)cost

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Definitions:

Labor Supplied Exceeding

A situation where the quantity of labor offered by workers exceeds the quantity demanded by employers.

Structural Unemployment

Occurs when there is a mismatch between the skills that workers offer and the skills demanded by employers, often due to technological changes or shifts in the economy.

Short Spells Of Unemployment

Short spells of unemployment refer to brief periods during which an individual is without a job and actively seeking work.

Frictional Unemployment

Unemployment that occurs when people are in between jobs or are entering the workforce for the first time, typically a temporary condition.