_____________ Such as Paying Salaries and Setting Up a Shop

question 28

Multiple Choice

_____________ such as paying salaries and setting up a shop floor are internal transaction costs.

• A) Administrative costs
• B) Process costs
• C) Explicit costs
• D) Market costs

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Definitions:

Allocation

Involves the distribution of resources or tasks among various departments, projects, or individuals based on priorities and strategic goals.

Arrangement

This term denotes the way in which things are organized or arranged, whether physically, socially, or logically.

Resources

Assets, materials, and other components necessary for a company or individual to function effectively.

Planning Steps

The sequential actions or stages involved in devising a plan, including goal setting, strategy formulation, and action planning.