What Is Crowdsourcing and When Is Most Likely to Be

question 244

Essay

What is crowdsourcing and when is most likely to be effective for decision making? What has contributed to the growth of crowdsourcing as a decision aid?

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Definitions:

FOB Destination

A shipping term indicating that the seller is responsible for the cost and risk of transport until the goods reach the buyer's location.

Buyer's Place

The agreed location where the buyer takes ownership of goods purchased, significant in determining shipping costs and liability.

Perpetual Inventory System

An inventory management approach where inventory levels are updated in real time with each sale or purchase.

Gross Method

A method in accounting that logs purchases using the total invoice amount, not considering any cash discounts that are available.