Explain Make-Or-Buy Decisions with an Example

question 4

Essay

Explain make-or-buy decisions with an example.

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Definitions:

Conditioned Stimulus

An initially neutral stimulus that, after association with an unconditioned stimulus, triggers a conditioned response.

Unconditioned Response

An automatic, innate reaction to a stimulus without prior learning or conditioning.

Positive Reinforcers

In behavioral psychology, stimuli that, when presented following a behavior, increase the likelihood of that behavior being repeated.

Negative Reinforcers

In behavioral psychology, an unpleasant stimulus whose removal leads to an increase in the likelihood that a preceding behavior will be repeated in the future.