The Practice of an Existing Firm Replacing One or More

question 13

Multiple Choice

The practice of an existing firm replacing one or more of its supplier markets with its own hierarchical structure for creating the supplied product is called _____.

• A) merchandising
• B) crowdsourcing
• C) vertical integration
• D) horizontal integration

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Definitions:

Automobile Producers

Companies or firms involved in the design, manufacturing, and/or marketing of cars.

China

A country located in East Asia, known for being the world's most populous country and for its significant economic, cultural, and political influence globally.

Equity

In finance, equity represents the ownership interest in a company or property, often measured as the difference between the value of the assets and the liabilities.

Efficiency

The optimal use of resources to achieve the desired outcomes with minimal waste of time, effort, or materials.