A Make-Or-Buy Decision Is the Same As

question 126

Multiple Choice

A make-or-buy decision is the same as:

• A)an outsourcing decision.
• B)an opportunity cost.
• C)a keep-or-drop decision.
• D)a sunk cost.

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Definitions:

Mental Set

A frame of mind involving an established way of thinking, which can sometimes inhibit the ability to solve new problems.

Hierarchies

A system of organization where entities are ranked one above the other based on their status or authority.

Cognitive Maps

Mental representations of physical locations, helping an individual to navigate and understand spatial environments.

Mental Sets

The tendency to approach situations in a certain way because previous methods have been successful; can sometimes inhibit problem-solving.