Specific Adaptations Are Usually Required When a Buyer Chooses _____

question 63

Multiple Choice

Specific adaptations are usually required when a buyer chooses _____, which is a contract with an external firm to produce goods or services rather than the buyer producing them internally.

• A) gatekeeping
• B) resident buying
• C) competitive bidding
• D) outsourcing
• E) auctioning

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Definitions:

Rental Price

The cost of using or occupying property or equipment for a specified period.

Average Productivity

The output produced per unit of input, such as labor or capital, on average.

Total Output

The total quantity of goods and services produced in an economy over a given period of time.

Capital Stock

The total amount of physical goods existing in a company or economy that can be used to produce more goods and services.