An Angry Customer Can Make You Angry Too

question 25

Multiple Choice

An angry customer can make you angry too. However, it is crucial that ________.

• A) You stay calm and ask the customer to explain the situation, not interrupting the customer as they speak
• B) You make your points to the customer
• C) You ensure that you continue to sell your product or service
• D) You win the argument
• E) None of the above

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Definitions:

Price Gouging

Price gouging occurs when a seller increases the prices of goods, services, or commodities to a level much higher than is considered reasonable or fair, often during a demand spike caused by a crisis.

Price Floor

A government- or authority-imposed minimum price that can be charged for a good or service, typically above the equilibrium market price to maintain a fair or sustainable market condition.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price, where the quantity supplied equals the quantity demanded.

Equilibrium Price

The price at which the quantity of goods demanded equals the quantity of goods supplied, leading to market balance.