The service sector has lower productivity improvements than the manufacturing sector because
A) the service sector uses less skilled labor than manufacturing
B) the quality of output is lower in services than manufacturing
C) services usually are labor-intensive
D) service sector productivity is hard to measure
E) none of the above
C) services usually are labor-intensive
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When people use money by trading it for goods and services, money is serving the role of a
A. medium of exchange. B. unit of account. C. store of value. D. standard of deferred payment.
Before attempting to change someone's attitudes, beliefs or actions, what must be understood?
A) Demographics B) Psychographics C) Motivation D) Desires E) Culture
Which of the following is true concerning goodwill?
A. Goodwill is recorded when a company is purchased for more than the fair value of its identifiable net assets. B. Goodwill is recorded when the market value of a company exceeds the fair value of its identifiable net assets. C. Goodwill is recorded as a revenue in the income statement. D. Goodwill can never be recorded.
What is a demand curve? Explain its importance in the context of pricing decisions
What will be an ideal response?