Numerous Surveys Have Concluded That the Most Important Element of Service

question 104

Multiple Choice

Numerous surveys have concluded that the most important element of service is:

• A)the personal touch.
• B)convenient business hours.
• C)speedy transactions.
• D)innovative product design.

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Definitions:

Utility Of Income

The perceived value or satisfaction that an individual gains from receiving a certain amount of income.

Income Function

A mathematical representation that shows how an individual's or firm's income changes in relation to other factors, such as labor or capital investment.

Identical Expected Values

Situations where two or more uncertain alternatives have the same expected outcome or result.

Investment Opportunity

A financial or economic chance to invest capital with the expectation of achieving a profitable return.