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:

Moral Hazard

Moral hazard occurs when one party to an agreement engages in risky behavior or fails to exercise responsible care because this party knows another bears the consequences.

Tenure

The duration or period of time a person holds a particular position, job, or place of living.

Accomplished Teachers

Educators who have achieved a high level of expertise and excellence in their teaching practices.

Moral Hazard

A situation in economics where one party is more likely to take risks because the costs that could result will not be borne by the party taking the risk.