ITE2643: Chapter 4-3

ITE2643: Chapter 4-3

12th Grade

14 Qs

quiz-placeholder

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ITE2643: Chapter 4-3

ITE2643: Chapter 4-3

Assessment

Quiz

Computers

12th Grade

Medium

Created by

asmah ab rahmian

Used 14+ times

FREE Resource

14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

According to transaction cost theory, why do firms seek to reduce transaction costs?

To reduce costs incurred when buying on the marketplace what it cannot make itself

To increase monitoring contract compliance

To reduce costs of obtaining information on products

To increase production costs

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What does information technology substitute for as its cost decreases?

Buildings and machinery

Middle managers and clerical workers

Both middle managers and clerical workers, and buildings and machinery

Neither middle managers and clerical workers, nor buildings and machinery

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

According to transaction cost theory, why do firms seek to reduce transaction costs?

To increase monitoring contract compliance

To reduce costs of obtaining information on products

To increase production costs

To reduce costs incurred when buying on the marketplace what it cannot make itself

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

How does information technology help firms lower the cost of market participation?

By increasing transaction costs

By reducing transaction costs

By increasing production costs

By increasing the cost of information

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the result of firms being able to contract with external suppliers instead of using internal sources?

Firms can increase their revenues

Firms can shrink in size (numbers of employees)

Firms can increase in size (numbers of employees)

Firms can stay constant in size (numbers of employees)

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is a possible outcome of information technology reducing internal management costs?

Firms will have more self-interested individuals

Firms will have more middle managers and clerical workers

Firms will have fewer middle managers and clerical workers

Firms will have the same number of middle managers and clerical workers

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

According to agency theory, what is the firm viewed as?

A unified entity

A profit-maximizing entity

A principal who employs agents

A nexus of contracts among self-interested individuals

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