________ Is When an Organization Asks Itself About Whether to Acquire

question 61

Multiple Choice

________ is when an organization asks itself about whether to acquire new technology from an outside source or develop it internally.

• A) Technology trading
• B) A make-or-buy decision
• C) Benchmarking
• D) Positioning
• E) Differentiation

Grasp the concept of sunk costs and their impact on business decisions.

Understand the principles behind the Third Industrial Revolution and its potential effects on production and transportation costs.

Comprehend how additive manufacturing (3-D printing) affects economies of scale, production costs, and manufacturing industry dynamics.

Differentiate between explicit costs, implicit costs, and the importance of including both in economic cost calculations.

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Definitions:

Physical Handicaps

Conditions that limit a person's physical abilities, potentially requiring special accommodations or interventions.

Mental Handicaps

Mental handicaps are conditions that significantly impair an individual's cognitive functioning and adaptive behavior, affecting their daily life.

Cost-Benefit Analysis

A systematic approach to estimate the strengths and weaknesses of alternatives used to determine options that provide the best approach to achieve benefits while preserving savings.

Risk-Benefit Analysis

A process of comparing the potential risks and benefits associated with a decision or action, often used in the context of health and safety, business, and environmental policy.