______ Is the Total Stream of Purchases That a Customer

question 120

Multiple Choice

______ is the total stream of purchases that a customer could contribute to the company over the length of the relationship.

• A) Customer value
• B) Return on customer
• C) Customer equity
• D) Target return
• E) Customer lifetime value

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Definitions:

Efficient Amount

This refers to the quantity of a good or service that maximizes social welfare, where the marginal benefit to consumers equals the marginal cost of production.

Marginal Benefit

The incremental benefit or pleasure derived from consuming one more unit of a good or service.

Efficient Level

The level of output where a firm or economy is maximizing its productivity and minimizing waste within its resources.

Tax

An obligatory financial contribution or different kind of levy enforced on an individual or entity by a government agency for the purpose of funding government activities and diverse public costs.