Today,most Organizations Purchase or Rent the Software They Need Rather

question 83

True/False

Today,most organizations purchase or rent the software they need rather than make it because it costs too much and takes too long to build a quality information system.

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Definitions:

Fixed Costs

Expenses that do not change in proportion to the activities of a business within a certain range of operation, such as rent, salaries, and insurance.

Monopolistically Competitive

A market structure where many firms sell products that are similar but slightly differentiated, allowing them some control over pricing.

Maximizing Profits

The process of adjusting production and sales strategies to generate the highest possible profit from business activities.

Economic Profit

The gap measured between comprehensive earnings and widespread costs, including both evident and implicit fees.