When Is It Better for a Construction fiRm to Hire

question 21

Multiple Choice

When is it better for a construction firm to hire architects rather than contract them through the market?

• A) When the in-house contracts with the architects is complete.
• B) When it is difficult to monitor the performance of the hired architects.
• C) When the transaction costs of contracting them through the market are low.
• D) When the enforcement of the market contracts is difficult.

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Definitions:

Deep Processing

Encoding semantically, based on the meaning of the words; tends to yield the best retention.

Mnemonics

Memory aids, especially those techniques that use vivid imagery and organizational devices.

Hierarchies

Systems of organization where entities are ranked above one another based on status or authority.

Iconic Memory

A component of the visual memory system which is a brief, transient visual representation of a scene.