A Forward Integration Takes Information Entered into a Given System

question 245

True/False

A forward integration takes information entered into a given system and sends it automatically to all upstream systems and processes.

---

Definitions:

Inputs

Resources used in the production process, including labor, capital, materials, and energy.

Budget

An estimation of revenue and expenses over a specified period.

Isocost Line

Graph showing all possible combinations of labor and capital that can be purchased for a given total cost.

Input Combinations

The various mixes of inputs or factors of production a firm can use to produce a given level of output.