A Potential Benefit Given Up When One Activity Is Selected

question 76

Multiple Choice

A potential benefit given up when one activity is selected over another best defines

• A)sunk costs.
• B)variable costs.
• C)opportunity costs.
• D)reflective costs.

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Definitions:

Relational Sources

Information about products or services that comes from personal relationships, such as friends, family, or colleagues.

Public Sources

Information available from non-confidential sources, such as government publications, libraries, and the Internet, that can be accessed by the general public.

Personal Sources

Individuals or personal contacts from whom one can obtain information, advice, or support, especially relevant in decision-making processes.

Evaluative Criteria

The standards or benchmarks that consumers use to compare and judge products or services during the decision-making process.