If There Is a Low Degree of Uncertainty Combined with a Low

question 49

Multiple Choice

If there is a low degree of uncertainty combined with a low degree of asset specificity, _____ will be efficient.

• A)long-term contracts
• B)short-term contracts
• C)market transactions
• D)vertical integration

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Definitions:

Experience

The knowledge or skill acquired through involvement in or exposure to events, situations, or activities over time.

Extract and Focus

The process of identifying and concentrating on specific elements or aspects.

Numerous Unrelated Elements

Refers to a collection of distinct items or aspects that do not have a direct relationship with each other within a particular context.

Verbalizing

The act of expressing thoughts, feelings, or perceptions in spoken words.