Question

How has the Internet dramatically reduced search costs?a. by making the shopping experience more funb. by eliminating the need to travel to stores to shopc. by reducing the benefit of competitiond. by offering products for sale at prices below those in stores

Answer 1

Answer: Option (b) is correct.

Explanation:

Correct : by eliminating the need to travel to stores to shop.

Internet literally reduced the search cost by saving the travel time of the consumers to the shopping stores. Now days, almost all the consumers prefer to buy products online instead of travelling here and there for the products.

Buying products from the stores involves certain costs such as travelling cost, waste of time, miscellaneous,etc.

Hence, internet facility helps in reducing these kind of costs, that's why in today's world mostly people rely more on internet for shopping and all instead travelling to the stores.