_____ Refers to the Process of Acquiring and Consolidating Elements

question 75

Multiple Choice

_____ refers to the process of acquiring and consolidating elements of a value chain to achieve more control.

• A) Vertical integration
• B) Horizontal integration
• C) Outsourcing
• D) Offshoring

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Definitions:

Total Revenue

The overall amount of money generated by a firm from its sales activities before any expenses are subtracted.

Marginal Cost Curve

It illustrates the change in total cost that arises when the quantity produced is incremented by one unit; this is the cost of producing one additional unit of a good.

Short-Run Supply

The supply provided by firms in the short term when at least one input, usually capital, is fixed.

Economic Profit

The contrast between the aggregate income and complete costs, both visible and unseen, of a company.