________ Is the Term Generally Used to Describe the Practice

question 18

Multiple Choice

________ is the term generally used to describe the practice of moving certain business functions to other locations where services can be provided more economically.

• A)Redeployment
• B)Globalization
• C)Outsourcing
• D)Internationalizing

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Definitions:

Profit-Maximizing Output

This term refers to the level of production at which a business achieves the greatest profit, where marginal cost equals marginal revenue.

Market Price

The current price at which a good or service can be bought or sold in a given market, determined by supply and demand.

Units

Measurements or quantities of a product or service.

Short-Run Costs

Costs that vary with the level of output in the short term, where at least one factor of production is fixed.