Final answer:
The statement that benefit is the entire range of satisfactions from a product or service is true. Benefits include a wide array of customer satisfactions including functional, emotional, and financial aspects. The market revolution and principles of free enterprise support this concept, with the added dimension that information plays a crucial role in consumer satisfaction.
Step-by-step explanation:
Benefit is the entire range of satisfactions a customer gets from a product or service. The statement is true. In business, the term 'benefit' encompasses all the positive effects a consumer perceives from using a product or service, which may include functional advantages, emotional satisfaction, financial savings, or social status among others. A positive correlation does not necessarily indicate health benefits; it simply means that two variables increase or decrease in tandem. Social Exchange Theory posits that in relationships, humans want to maximize benefits while minimizing costs. The concept that consumers receive better or less expensive products, and that upsurges in business profits and employee income contribute to a nation's overall economic benefit aligns with the principles of a free enterprise system. This system is said to provide many benefits, including a higher quality of life, with people's level of satisfaction correlating with the effectiveness of the economic system.
Moreover, every purchase decision is influenced by the customer's belief in the anticipated satisfaction from a good or service, which in turn is based on the information available to the buyer. Imperfections or uncertainties in this information can impact the buyer's experience, either leading to regret over past purchases or reluctance to make future ones.