When an Individual Initiates the Communication Process by Searching for Information

question 164

Multiple Choice

When an individual initiates the communication process by searching for information about a business, which of the following search tools is he or she most likely to use?

• A) Newspaper advertisement
• B) Television advertisement
• C) Business newsletter
• D) Internet
• E) Billboard advertisement

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Definitions:

Opportunity Costs

The cost of foregoing the next best alternative when making a decision. It represents the benefits an individual, investor, or business misses out on when choosing one alternative over another.

Fixed Costs

Expenses that do not change with the level of goods or services produced over the short term.

Variable Costs

Costs that vary directly with the level of production or business activity, such as raw materials, packaging, and labor directly involved in a company's manufacturing process.

Sunk Costs

Expenses that have already been incurred and cannot be recovered or altered, and should not be considered in future business decisions.