High-Contact Encounters Between Customers and Service Organizations Differ Sharply from Low-Contact

question 37

True/False

High-contact encounters between customers and service organizations differ sharply from low-contact encounters.

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Definitions:

Inputs

Resources such as labor, materials, and capital that are used in the production process to create goods and services.

Labor

Utilization of human mental and physical effort in the production process of goods and services.

Capital

Wealth in the form of money or assets, used or available for use in the production of more wealth.

Accounting Profit

The total revenue of a business minus its explicit costs; does not include opportunity costs.