An Auto Parts Chain Asked Customers to Complete a Survey

question 81

Multiple Choice

An auto parts chain asked customers to complete a survey rating the chain's customer service as average, above average, or below average. The following table shows the results from the survey. (See the Excel Data File.) A rating of Average or Above Average accounted for what number of responses to the survey?

• A) 3
• B) 7
• C) 8
• D) 10

Comprehend the ethical considerations in management and the impact of ethical leadership.

Identify opportunities arising from sociocultural trends for small businesses.

Understand the importance of a mission statement and strategic objectives in guiding organizational actions.

Grasp the various aspects and tools of strategic planning, including SWOT analysis.

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Definitions:

Specific Tax

A tax that is levied as a fixed amount per unit of a good or service, rather than a percentage of the price.

Elasticity of Supply

A measure of how much the quantity supplied of a good responds to a change in the price of that good, indicating the flexibility of producers.

Deadweight Loss

An economic inefficiency resulting from the lack of or impossibility to attain equilibrium in the market for a particular good or service.

Tax Revenue

The income generated by the government through the imposition of taxes on goods, services, and income.