Asked by Pedro Mendes da Fonseca on Jun 07, 2024
Verified
What cost should consumers take into consideration when making more economically and environmentally conscious appliance purchases?
A) the operating cost
B) the life cycle cost
C) the external cost
D) the initial cost
Life Cycle Cost
The total cost of ownership of a product or system over its entire life, including initial purchase, operation, maintenance, and disposal costs.
Operating Cost
The total amount of money required to run a business, project, or device, excluding capital expenditures.
External Cost
Costs of a transaction that affect people other than the buyer or seller, which are not reflected in market prices.
- Comprehend the economic and environmental factors in appliance purchases.
Verified Answer
SL
Sergio LopezJun 12, 2024
Final Answer :
B
Explanation :
Consumers should take into consideration the life cycle cost of the appliance, which includes not only the initial cost but also the operating cost, maintenance cost, and disposal cost. This will help them make more economically and environmentally conscious appliance purchases in the long run. The external cost, which refers to the cost imposed on society or the environment, should also be considered, but it is often difficult to quantify and may not be readily available to consumers.
Learning Objectives
- Comprehend the economic and environmental factors in appliance purchases.