Contract manufacturing always involves a company's use of foreign resources
Indicate whether the statement is true or false.
Answer: FALSE
Explanation: This practice describes using suppliers outside the company for resources—these suppliers may or may not be outside the country.
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A sales agent in Utah negotiated an offer on an old home which had problems with the electrical system. The agent did not make an inspection or suggest one be done. The seller says everything works. When the buyer asked, the agent said, "Everything's in good working order." The sales agent is guilty of:
(a) Nothing, because of what the seller said (b) Not exercising reasonable care (c) Nothing, because of the fiduciary relationship to the seller (d) Nothing, because there was no intention of misrepresentation
What is the main reason that a business suffers several economic consequences when a dissatisfied customer leaves?
A) The cost of attracting a new customer is greater than retaining a current customer. B) The business's competitors enjoy a greater customer loyalty toward the same type of products. C) The amount of money spent on developing the product for the dissatisfied customer cannot be reimbursed. D) The business has to pay a large compensation fee to the customer. E) The future costs for the development of a similar product increases abruptly.