A characteristic of outsourcing is
a. essentially the opposite of vertical integration
b. likely to be profitable exactly when vertical integration is profitable
c. it prevents a firm from focusing on its core competencies
d. it prevents the exploitation of differing degrees of economies of scale at different points in the supply chain
a
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State two social benefits of inflation
What will be an ideal response?
The concept of comparative advantage applies:
a. only to people with at least a high school diploma. b. only to people who are currently employed. c. to situations in which you have information about the salary levels of those with whom you are competing for a job. d. to every case of trade or exchange. e. only to goods that are sold in the domestic market.
A lump-sum tariff imposed on foreign competitors will:
A. decrease the profits of domestic firms when demand is high. B. have no impact on domestic firms' profits when demand for domestic goods is high. C. increase the profits of domestic firms when demand is high. D. always remove foreign competitors from the market.
Monopolistic competition is an industry in which products are differentiated, but in oligopolies products are standardized.
Answer the following statement true (T) or false (F)