People Respond To Incentives and Opportunity cost
Incentives is the nothing but the person tends to act or change in behaviour by offering rewards
I decided to buy an pair of dress i.e,jeans and shirt
I decided to buy an pair of dress i.e,jeans and shirt
I choose Brand Factory due to following factors
- providing 50% offer in mrp price
- providing 2000 worth coupons
Opportunity cost is nothing but giving up in order to get best alternative.
here, the cost and benefit is more in buying clothes in brand factory than its alternative.
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