Organizations Can Lock in Suppliers by Making It Difficult to Switch

question 39

Multiple Choice

Organizations can lock in suppliers by making it difficult to switch to another organization or by ________.

• A)making it easy to work with the organization.
• B)preventing other organizations from working with their suppliers.
• C)increasing investments in their supply chain.
• D)taking over the supply channel.

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Definitions:

Specialize

The process of focusing effort and resources on a particular area of expertise or production to increase efficiency and output.

Production Possibility Frontiers

A curve depicting all maximum output possibilities for two goods, given a set of inputs and technology, illustrating the trade-offs and opportunity costs.

Opportunity Cost

Abandoning potential gains available from alternative choices when one is picked.

Bushel

A unit of volume that is used primarily in agriculture, specifically for measuring volumes of dry goods such as grains and fruits.