Increased Number of Repeat Customers and Increased Rate of On-Time

question 54

Multiple Choice

Increased number of repeat customers and increased rate of on-time deliveries are the indicators of:

• A)product quality.
• B)market share.
• C)customer satisfaction.
• D)skills and knowledge of the employees.

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Definitions:

Wage Rate

The amount of money paid to an employee for a specified quantity of work, often expressed per hour or year.

Marginal Revenue Product

The extra income produced by the use of an additional unit of a resource, for example, labor or capital.

Unit of Output

A quantifiable amount of goods or services produced by a firm, industry, or economy.

Labor Hire

The process of employing workers, often on a temporary basis, to perform certain jobs or tasks.