The Transferring of Business Functions or Processes to Other Companies

question 52

Multiple Choice

The transferring of business functions or processes to other companies has traditionally been known as

• A) subcontracting.
• B) downsizing.
• C) partnering.
• D) joint venture.
• E) outsourcing.

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Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price in a specified period.

Perfectly Price-inelastic

A situation where the quantity demanded of a good does not change regardless of changes in its price.

Price-inelastic

Referring to a situation where demand or supply for a good or service is relatively unresponsive to changes in price.

Total Revenue

The aggregate income a company generates from its sales of products or delivery of services over a designated period.