Firms generally prefer not to outsource product design and manufacturing because:

Firms generally prefer not to outsource product design and manufacturing because:
a. these activities are common and standardized.
b. these operations are more or less static.
c. these operations involve a low investment.
d. these operations require investment in highly specific assets.

QUESTION 2

To Schumpeter, the market process is called
A) dynamic externalities
B) static business formation
C) creative destruction
D) all of these choices.

QUESTION 3

Which of the following is most likely to incorporate a great deal of economic rent?
a. sale of a bag of potato chips
b. salary paid to an employee at the local Home Depot
c. a soft drink sold by a vending machine
d. sale of a rare stamp

QUESTION 4

_____ and _____ are major factors in de-integration, which act in opposite directions.
a. Vertical restraints; opportunism
b. Uncertainty; volumetric interdependence
c. Asset specificity; uncertainty
d. Volumetric interdependence; vertical restraints

QUESTION 5

The ____ is at the center of the market process.
A) managers
B) shareholders
C) entrepreneur
D) none of these choices.

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Firms generally prefer not to outsource product design and manufacturing because:

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