Why Should a Firm Consider Vertical Integration as Opposed to Simply

question 77

Essay

Why should a firm consider vertical integration as opposed to simply outsourcing the component parts that go into its final product? What are the advantages of making a product in-house?

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Definitions:

Tattoo

A permanent form of body art made by inserting ink into the layers of skin to change the pigment.

Esther Duflo

A French-American economist known for her research in development economics and as a recipient of the Nobel Prize in Economics.

Abhijit Banerjee

An economist who won the Nobel Prize in Economic Sciences in 2019 for his experimental approach to alleviating global poverty.

Poor Societies

Communities or nations with low levels of income, resources, and standards of living.