The answer is: TRUE .
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Cheyenne has a small bakery specializing in gourmet cupcakes. In response to customer demand, she has added gluten-free cupcakes to her menu. This customer demand would be characterized as feedback.
<u>Explanation:</u>
In the viewpoint of systems the information gathered from the society regarding the output of anything is feedback. This is definitely affect the input also. It has either affect positively or negatively. It is very important for any business to be successful. Feedback plays a major role in this process.
Feedback is the process by which the views of the customers are gathered. Some of the people may like a particular product for some reasons. Some of the people may not like the same product for some reasons. The fact is that the tastes and preferences of people differs from each other. Thus, the features of the products can be improved only with the feedback system.
The fact that Wegmans sends the employees in its fish and meat department to a "university" program to become experts on the store's product categories helps to increase assurance, one of the foundations of service quality. The assurance means accurate and current information to the stakeholders<span>.</span>
Answer:
The price elasticity of demand for icecream is -0.75, that means that is inelastic.
Explanation:
Price elasticity of demand measures the porcentage of the change in the demand when there is a change in the price. If the change in porcentage of the demand is less than the pocentage of change in the price we talk about inelastic demand. An increase in the price of inelastic goods will result in bigger revenues, as the porcentage in the drop of sales is less than the porcentage of increase in the price.
The formula is: % in change demand/% in change of price
-3%/4= -0.75
The minus symbol indicates that when the price rises the demand decrease.