A Collection of Independent Firms That Use Information Technology to Coordinate

question 30

Multiple Choice

A collection of independent firms that use information technology to coordinate their value chains to produce a product or service for a market collectively is called a(n)

• A)industry value chain.
• B)business ecosystem.
• C)value web.
• D)consortia.
• E)synergy chain.

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Definitions:

Time And Material Pricing

A pricing method where a project is billed based on the actual time spent and the materials used.

Body Shop

Typically refers to a repair shop specializing in the repair and finishing of automobile bodies.

Cost-Plus Pricing

A pricing strategy where the selling price is determined by adding a specific markup to a product's total cost.

Full Cost

The total cost of production that includes direct and indirect costs, such as raw materials, labor, and overhead expenses.