The Decision to Make or Buy a Good or Service

question 18

Multiple Choice

The decision to make or buy a good or service is:

• A)a one-time decision never to be reconsidered.
• B)a decision of strategic importance that deserves careful evaluation.
• C)primarily an operational decision.
• D)the same as deciding to insource or outsource.
• E)typically made by the chief supply officer and his or her executive team.

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Definitions:

Federal Reserve

The leading bank system in the US tasked with managing and regulating America's financial and currency systems.

Deficit Spending

The practice of a government spending more money than it receives in revenue over a specific period, often leading to borrowing.

Stock Markets

Marketplaces where stocks (shares) of publicly held companies are bought and sold, influencing the economy and individual wealth.

Economic Generation

The cohort of individuals born and living at about the same time, regarded collectively as participants in the market economy.