The Primary Means for Gathering Information from Customers and Measuring

question 3

Multiple Choice

The primary means for gathering information from customers and measuring customer satisfaction is

• A)a sampling program.
• B)a phone interview.
• C)feedback from competitors.
• D)a survey.

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Definitions:

Equilibrium Price

The equilibrium price where the supply of items perfectly aligns with the demand for them in the marketplace.

Computers

Electronic devices designed to accept data, perform prescribed mathematical and logical operations at high speed, and display the results of these operations.

Production Costs

The total expense incurred in manufacturing goods or providing services, including labor, materials, and overheads.

Supply Curve

A graphical representation of the relationship between the price of a good and the quantity of that good that suppliers are willing and able to provide.