When a Company Is Outsourcing a Process,resources Are Freed Up

question 97

Multiple Choice

When a company is outsourcing a process,resources are freed up so they can be put to another use.The alternative use is considered to be

• A)An opport
• B)A sunk cost.
• C)A outsource windfall.
• D)None of these ans choices are correct.

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Definitions:

Monopsony

A market condition where there is only one buyer facing many sellers, giving the buyer significant power over prices and terms of exchange.

Product Market

The marketplace where final goods or services are offered to consumers, businesses, and other entities by producers and suppliers.

Resource Market

A market where resources (e.g., labor, capital, land) are bought and sold, often determining the distribution of income in an economy.

Imperfectly Competitive

Imperfectly Competitive describes markets where the assumptions of perfect competition, such as homogeneous products and many buyers and sellers, are not fully met, resulting in individual firms having some control over price.