Advances in Technology

question 228

Multiple Choice

Advances in technology:

• A) have impacted the manufacturing sector only.
• B) have had only a limited impact on services.
• C) have failed to change the level of customer interaction with an organization.
• D) have had a dramatic impact on customer interaction with services and with products.
• E) have dramatically changed health care, but have not changed retailing.

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Definitions:

Collateral

Property or assets pledged as security for a loan, which can be seized by the lender if the loan is not repaid.

Defaulted On The Loan

A situation in which a borrower fails to make the agreed-upon payments on a loan within the specified time, leading to a breach of the loan agreement.

Security Interest

A legal claim or right granted to a creditor over the debtor's assets as collateral for a loan.

Monthly Payments

Regular payments made once a month, often in the context of loans, rent, or subscriptions.