What are switching costs?
What will be an ideal response?
Switching costs are the costs customers incur when they change suppliers. Royalty programs and initial costs, among other strategies, increase the costs of switching. For example, switching costs are high in the software industry.
Business
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The major source of risk exposure resulting from issuance of standby letters of credit is
A. technology risk. B. interest rate risk. C. credit risk. D. foreign exchange risk. E. off-balance-sheet risk.
Business
Which of the following graphical symbols represents a minimum cardinality of one and a maximum cardinality of one?
A) B) C) D)
Business