An Important Dimension of Quality at Many Services Is

question 13

Multiple Choice

An important dimension of quality at many services is

• A)conformance to accepted standards
• B)timeliness and waiting time
• C)reliability
• D)features and aesthetics

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Definitions:

Price Ceiling

a legally imposed maximum price on goods or services, above which they may not be sold to prevent market prices from rising too high.

Price Floor

A government or regulatory-imposed price control that sets the minimum price at which a good can be sold, often to protect producers or encourage certain activities.

FICA Tax

The Federal Insurance Contributions Act (FICA) tax is a United States federal payroll tax imposed on both employees and employers to fund Social Security and Medicare programs.

Incidence

The analysis of the distributional effect of a tax or policy on different groups, focusing on who bears the cost.