If You Follow-Up with Clients to See What They Thought

question 12

Short Answer

If you follow-up with clients to see what they thought of the service level that you provided, you are using a __________ type of control.

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Definitions:

Implicit Cost

The opportunity cost equal to what a firm must give up in order to use resources that it already owns, as opposed to explicit costs that are directly paid.

Future Earnings

Projected income that an entity or individual anticipates receiving over a specified future period, often used in valuation or investment analysis.

Migration

The movement of individuals or groups from one location to another, often in pursuit of better living conditions, job opportunities, or safety.

Economic Analysis

The process of examining statistics and market dynamics to understand and predict trends, assess the performance of economies, or make business decisions.