Many Consumers Who Do Online Banking Are Reluctant to Change

Multiple Choice

Many consumers who do online banking are reluctant to change banks because of the effort it would take to change automatic payments and online payments. The "cost" to change includes the time and effort it would take to cancel old payments and set up new ones as well as the potential for missing a payment. What do these "costs" represent?

A) opportunity costs
B) switching costs
C) barrier costs
D) contributory costs