In the Past, Karson Photography Studios Directly Hired and Managed

question 36

Multiple Choice

In the past, Karson Photography Studios directly hired and managed its own custodial staff.Now, Karson contracts this work to a cleaning company.This is an example of

• A) corporate governance.
• B) offshoring.
• C) outsourcing.
• D) nearshoring.
• E) insourcing.

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Definitions:

Inelastic Portion

A segment of the demand curve where consumers are relatively unresponsive to changes in price, meaning demand does not significantly decrease as the price increases.

Revenue Maximizer

Describes a strategy or approach focused on increasing the total revenue received, regardless of profits or costs.

Profit Maximizer

A strategy or process employed by businesses to increase their net profits to the highest possible level given their resources, constraints, and market conditions.

U-Shaped Average

This term seems unclear; possibly referring to the 'U-shaped' curve of the average cost, which decreases, reaches a minimum, and then increases with production volume.