With Five Children and Several Nieces and Nephews,Bronson Has Shopped

question 160

Multiple Choice

With five children and several nieces and nephews,Bronson has shopped at a lot of toy stores.He really likes The Toy Corner because he can ask for an age specific toy and if they do not have it,they order it and have it delivered at a price he is willing to pay.Bronson feels that The Toy Corner exceeds his:

• A) perceived service
• B) service gap
• C) customer expectations
• D) learned response
• E) tangible cue

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Definitions:

Negative Externality

A negative externality is a cost imposed on a third party not involved in the production or consumption of a good or service, such as pollution.

Positive Externality

A beneficial effect experienced by a third party who did not choose to incur that benefit, often resulting from an individual's or firm's actions.

Corrective Tax

A tax designed to internalize externalities, effectively correcting market outcomes that might otherwise result in social inefficiency.

Command-And-Control Policies

Regulatory strategies where the government sets specific limits and controls on emissions or discharges, often requiring technology or methods to be used.