What Term Do We Use for a Company Arranging Payments

question 154

Multiple Choice

What term do we use for a company arranging payments to suppliers and distributors to provide needed services and materials in order to perform those processes the organization does not perform itself?

• A) backward integration
• B) forward integration
• C) outsourcing
• D) system design

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Definitions:

Industry Growth

The increase in the size and output of an industry over time, typically measured in terms of revenue, employment, or output.

Fixed Costs

Expenses that do not change with the level of goods or services produced by a business.

Raw Materials

Basic goods used in the production of final products.

Barrier to Entry

Factors that prevent or hinder companies from entering a specific market, such as high startup costs, stringent regulations, or strong competition.