Apple Used to Be in the Business of Manufacturing Only

question 66

Multiple Choice

Apple used to be in the business of manufacturing only, but then it opened Apple stores.This is an example of which of the following?

• A) revenue sharing
• B) forward integration
• C) franchising
• D) backward integration

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Definitions:

Utility

In economics, the satisfaction or pleasure that consumers derive from consuming goods or services.

Risk-neutral

An attitude towards risk where an individual values all outcomes equally without preference for risk.

Risk-loving

A preference or inclination to undertake investment with uncertain outcomes, often with the potential for significant gains.

Utility

A measure of satisfaction, usefulness, or value that a consumer derives from consuming a good or service.