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would some consumers be willing to accept some risk from using a product if it means the product is cheaper? why?

Sagot :

Some consumers would be willing to accept some risk form using a product if it mean the product is cheaper, because they are implementing trade-off concept between safety and product price.

Trade-off explains that in order to gain one thing, we have to accept of having less or even loss of something else.

In economics, trade-off is also known as opportunity cost. Opportunity cost is the cost of opportunity we missed when we decide to purchase or purse another product.

From the perspective of the uttainable triangle, we know that a product could only have 2 out of the triangle sides--speed, price, quality. You will not be able to meet all 3 aspects in one product. This theory is align with trade-off concept.

If we look back at the case, some consumers may prefer to have cheaper product even if the product's quaility is poor. Those customers are already aware with their decision's side effect and concequences, in this case is in form of product risks.

Learn more about Trade-off here: https://brainly.com/question/10895386

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