In Most Situations,the Simplest,easiest and Most Cost-Effective Way to Acquire

question 92

Multiple Choice

In most situations,the simplest,easiest and most cost-effective way to acquire new technology is to

• A)buy it.
• B)develop it internally.
• C)license it from others.
• D)develop a joint venture.
• E)purchase the owner of the technology.

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Definitions:

Producer Surplus

The difference between the amount that producers are willing to accept for a good or service and the actual amount they receive in the market.

Externality

A cost or benefit from production or consumption that accrues to someone other than the immediate buyers and sellers of the product being produced or consumed (see negative externality and positive externality).

Third Party

An individual or group besides the two primarily involved in a transaction or legal matter, sometimes involved as an intermediary or independent party.

Transaction

An exchange or transfer of goods, services, or funds between two or more parties.