Business Customers Are Sometimes Less Price Sensitive If There Are

question 195

True/False

Business customers are sometimes less price sensitive if there are switching costs.

---

Definitions:

Opportunity Cost

Abstaining from possible rewards offered by other selections upon choosing one.

Agricultural Output

The total production of crops, livestock, and other agricultural goods within a specific period, usually expressed in quantity or value terms.

Rural India

Refers to the countryside areas of India, often characterized by agricultural communities, lesser-developed infrastructure, and traditional lifestyles.

Opportunity Cost

The value of the next best alternative that must be foregone as a result of making a decision.