Switching costs are the costs that consumers must bear to switch from a product based on one technological standard to a product based on another technological standard.

Question

Quizplus · Accepted Answer

Switching costs refer to the expenses and efforts that customers have to make to switch from a product based on one technology standard to another product based on a different standard. These costs may include financial costs, time and energy spent on acquiring new skills or knowledge, and the inconvenience of dealing with the transition.

Switching Costs Are the Costs That Consumers Must Bear to Switch