The costs associated with changing from one choice, such as a brand, retailer, or service provider, to another are known as _____.
A) switching costs
B) transfer costs
C) conversion costs
D) opportunity costs
E) external costs

Question

Quizplus · Accepted Answer

Switching costs refer to the costs associated with changing from one choice, such as a brand, retailer, or service provider, to another. These costs can include time, effort, monetary costs, and psychological costs, and can act as a barrier to switching choices. Therefore, option A is the most appropriate choice.

The Costs Associated with Changing from One Choice, Such as a Brand