The difference between the perceived benefits gained by a customer who purchases a firm's products or services and the full economic costs of these products or services is known as
A) accounting value.
B) comparative value.
C) economic value.
D) sustainable value.

Question

Quizplus · Accepted Answer

The difference between the perceived benefits gained by a customer and the full economic costs of a product or service is known as economic value. This includes both monetary costs as well as the opportunity cost of choosing one product over another. The economic value is what motivates customers to make a purchase and is a key factor in determining the success of a product or service.

The Difference Between the Perceived Benefits Gained by a Customer