Preston decides to buy a new car. He does a lot of research online and goes to several car dealerships to test drive cars. He finally decides on a car to purchase, but, in order to buy it, Preston must take out a loan. He also must get the car inspected and registered before he can start driving it. In this scenario, which is a nonmonetary cost associated with Preston's car purchase?

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Social Studies

15 December, 19:54

Preston decides to buy a new car. He does a lot of research online and goes to several car dealerships to test drive cars. He finally decides on a car to purchase, but, in order to buy it, Preston must take out a loan. He also must get the car inspected and registered before he can start driving it. In this scenario, which is a nonmonetary cost associated with Preston's car purchase?

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Answers (1)

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Sidney Stone · Answer 1

The time taken to test drive various car models

Explanation:

Non monetary cost refers to Whatever it costs a customer, other than money, to purchase a product. The non-monetary price of buying a product includes the time dedicated to looking for the product and the risk taken that the desired benefits would be received. Non-monetary expenses are the personal items that cost you, but not your bank account. They calculate non-monetary costs in units other than income. This may be money, comfort or even effort.

Non monetary cost is simply What it costs a customer (other than money) to buy a product.