Factors That Make It Difficult or Expensive to Change Suppliers

question 1

Multiple Choice

Factors that make it difficult or expensive to change suppliers or buyers are referred to as _____.

• A) transactional costs
• B) monopoly costs
• C) marginal costs
• D) switching costs

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Definitions:

Correlational Coefficient

A statistical measure that indicates the extent to which two or more variables fluctuate together, showing the direction and strength of a relationship between variables.

Error

A mistake made in thinking or action that leads to incorrect or unintended results.

Negative Correlation

A relationship between two variables in which one variable increases as the other decreases, indicating an inverse association.

Variable Increases

Situations or conditions where a measurable factor or quantity grows in magnitude or intensity.