When Firms Give Away "Freebies" Like Free Apps, Free Checking

question 221

True/False

When firms give away "freebies" like free apps, free checking accounts, free maps, or free toothbrushes, they are contradicting economists' contention that "there is no free lunch."

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Definitions:

Make-Or-Buy

Decision process in businesses to determine whether they should produce a good/service internally or purchase it from an external supplier.

Decision Trees

A graphical representation of decision processes, where each branch represents a possible decision or outcome, used to help determine the most favorable course of action.

EMV

EMV stands for Europay, MasterCard, and Visa, and it's a global standard for cards equipped with chip technology, enhancing payment security.

Redesigned

The process of revising or improving the design of a product, system, or service for better performance or efficiency.