Economics

Opportunity cost is the cost associated with choosing one opportunity over another. When you calculate opportunity cost you don't consider cost that are common to both alternatives.

There are not enough resources to produce all of the goods and services that everyone wants.

deciding what goods consumers buy

The desire to know what consumers want.

Focus groups Focus groups

Businesses

to transmit product messages to an audience

. To make sure banks have enough money on hand to meet customers' withdrawal requests

This is incorrect. Fractional Reserve Banking is the Instrument by which Banks lend money against your signature and only need 10% of the funds on hand to do so. They create 90% of the funds out of thin air. It is virtually legalized counterfeiting. Then they have the nerve to charge you interest on this money they created from nothing. Anybody who accepts this as a good idea is insane. If you don't believe me there are many you tube videos on the subject. An excellent place to start is "The Four Horsemen" featuring testimony from people such as the ex chief economist from the World Bank.

Companies want to influence consumer behavior through advertising.

Some people are willing to take more chances than others.

Lower overhead than local brick and mortar stores, no face to face customer service, low transaction costs.

Their purchases.

The concept of utility is a measure of consumer satisfaction.

Doing cost-benefit analysis

Its profits increase

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doing cost benefit analysis

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Consumers

The answer is

Ubiquitous:being everywhere

Succinct:to the point

Querulous:complaining a lot

Buying a second winter coat.