Question

Renting provides _________ flexibility but can lead to _________ costs in the long-term

Answer 1

B is the correct option.

Renting provides greater flexibility but can lead to higher costs in the long-term.

Further explanation:

Renting and owning:

Renting is paying someone for their property or land for the use of their land or house or anything. And owning is having something of our own or the ownership of any asset or land, property or anything.  

Justification for the correct and incorrect answer:

A.  

Greater; lower: This option is incorrect.

In renting, flexibility is greater and the cost in the long term is higher, not lower. Because the value of the house keeps on increasing so in the long run, the renting amount will also increase.  

B.  

Greater; higher: This option iscorrect.

In renting, flexibility is always greater but the cost in the long term is higher because the value of the house increases. So there will be more rent amount which keeps on increasing. It will lead to high cost in the long run.

C.  

Less; lower: This option isincorrect.

In renting, flexibility is greater, not less and the cost in the long term is higher, not lower. Because the value of the house keeps on increasing so in the long run, the renting amount will also increase.  

D.  

Less; higher: This option is incorrect.

In renting, flexibility is greater, not less and the cost in the long term is higher, which is correct. But flexibility in renting is greater because the amount paid for the rent is affordable.

Thus, renting provides greater flexibility but can lead to higher costs in the long-term.

Learn more:

1.      Learn more about choosing the purchase of car or leasing

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2.      Learn more about choosing the purchase of the car

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3.      Learn more about renting and owning

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Answer details:

Grade: High School

Subject: Business

Chapter: Renting

Keywords:Renting provides, flexibility but can lead to, costs in the long-term, greater; lower, greater; higher, less; lower, less; higher, payable, property, land.

Answer 2

The answer is:

- Greater

- Higher

Since you did not spend large amount of money in renting, you can move freely without feeling that you've spend to much for the place to stay. This is why renting is considered to be more flexible compared to owning a house.

But, Renting tend to lead to higher cost in the long run because the owner of the property would definitely impose higher price than they spend to buy the property. Otherwise they would not obtain any profit.