________ Is the Extension of Company Activities into Stages of Production

question 58

Multiple Choice

________ is the extension of company activities into stages of production that provide a firm's inputs or absorb its outputs.

• A)Decentralization
• B)Vertical integration
• C)Market penetration
• D)Social stratification

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Definitions:

Current Demand

The existing desire or need for products or services in the market at a specific point in time.

Price Expectation

Anticipations about future prices that can influence the current decisions of consumers and producers.

Surplus

A market condition where the quantity supplied exceeds the quantity demanded at a given price, often leading to downward pressure on prices.

Shortage

A market condition where the demand for a product exceeds its supply at a particular price.