_____ Is Defined as Turning Over an Organizational Activity to an Outside

question 3

Multiple Choice

_____ is defined as turning over an organizational activity to an outside supplier that will perform it on behalf of the focal firm.

• A) Deregulation 
• B) Outsourcing 
• C) Commoditizing 
• D) Securitization

Comprehend the concepts of derived demand and how it differs from final demand.

Understand the effects of complementary and substitute resources on productivity.

Differentiate between the substitution effect and the output effect and their impact on resource allocation.

Apply the principle of optimal resource mix in firm operation contexts.

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Definitions:

Aging Population

A demographic trend characterized by an increase in the proportion of older individuals in the population.

Entrepreneurs

Entrepreneurs are individuals who start and manage their own businesses, often taking on financial risks in the hope of profit.

Opportunities

Circumstances that present chances for progress, growth, or advancement in personal or professional contexts.

Franchise

A business model that allows individuals or entities to operate a branch of a larger company, using its brand, systems, and support in exchange for fees or royalties.