An Arrangement Between Two or More Firms That Establishes an Exchange

question 47

Multiple Choice

An arrangement between two or more firms that establishes an exchange relationship but has no joint ownership involved is called a:

• A) network
• B) trade association
• C) consortia
• D) joint venture
• E) strategic alliance

---

Definitions:

Five-Need Hierarchy

A reference to Maslow’s hierarchy of needs, which outlines five levels of human needs from basic (physiological) to higher order (self-actualization).

Innate

Referring to qualities, abilities, or characteristics that are present from birth and not significantly influenced by external factors or learned experiences.

Lower Needs

In Maslow's hierarchy, these are the basic physiological and safety needs that must be met before higher-level needs can be addressed.

Deficiency Needs

Refers to the basic requirements for physical and psychological well-being, which must be met before individuals can focus on higher-level needs like self-actualization.