What Term Refers to the Costs Incurred by Buyers When

question 5

Multiple Choice

What term refers to the costs incurred by buyers when they change to a different supplier?

• A)Switching costs
• B)Buyer costs
• C)Reputation costs
• D)Learning costs
• E)Customer costs

---

Definitions:

Authority

The legal power or right given to an individual or body to make decisions, direct others, and enforce obedience.

Partnership Creation

The formation of a partnership through the agreement of two or more individuals to carry on a business for profit as co-owners.

Accounting Partnership

A business arrangement where two or more individuals practice accounting together, sharing responsibilities, profits, and liabilities.

Legal Position

indicates an individual's or entity's standing or status in relation to the law, including rights, obligations, or liabilities.