Traditional Thinking About the Most Appropriate Form of Governance Has

question 43

Multiple Choice

Traditional thinking about the most appropriate form of governance has cast the decision as somewhat of a dichotomous choice between hierarchy (i.e., internal sourcing) and market (i.e., external sources) . Prior works have developed the image of ____________ governance as an arm's length relationship between the customer and the supplier organization.

• A) supplier
• B) buyer
• C) stakeholder
• D) local
• E) market

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Definitions:

Output

The total amount of goods or services produced by a firm, industry, or economy in a given period.

Average Fixed Costs

The fixed costs of production divided by the quantity of output produced, decreasing as production increases.

Annual Fixed Cost

The total of all business expenses that remain constant regardless of any change in production levels or sales volume over a year.

Total Output

The aggregate quantity of goods or services produced by an economy, sector, or production process over a specific period.