The Theory of Transaction Cost Analysis (TCA) States That When

question 67

True/False

The theory of transaction cost analysis (TCA) states that when substantial transaction-specific assets are necessary to sell a manufacturer's product, the costs of using and administering the independent agents are likely to be lower than the costs of hiring and managing a sales force.

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Definitions:

Biological Predisposition

Rephrased from Genetic Predispositions: The inherent genetic makeup that increases the likelihood of an individual developing certain conditions or traits.

Generalization

The process by which individuals apply learned responses to similar but not identical stimuli.

Spontaneous Recovery

The reappearance of a previously extinguished response after a period of non-exposure to the conditioned stimulus.

Negative Reinforcement

A process in behaviorism where the removal of an undesirable or unpleasant stimulus strengthens or increases the probability of a response.