If the Quality of an Input Is Easily Determined at the Time

question 151

Multiple Choice

If the quality of an input is easily determined at the time of purchase, then it is likely to

• A)be the cause of high transaction costs of using markets
• B)encourage vertical integration of a firm
• C)encourage supplier firms to produce low-quality inputs
• D)be produced internally by the firm
• E)be purchased in the market

---

Definitions:

Secretary/Treasurer

A combined administrative role involving the duties of both secretary (managing records, correspondence, and meetings) and treasurer (handling finances).

Universal Value

Ethical and moral principles that are recognized as important and valid for all people and cultures at all times.

United Nations

An international organization founded in 1945 to promote peace, security, and cooperation among countries worldwide.

Social Media

Platforms and websites that enable users to create, share content, or participate in social networking, fostering community interaction and personal expression.