
ITE2643: Chapter 4-3

Quiz
•
Computers
•
12th Grade
•
Medium
asmah ab rahmian
Used 14+ times
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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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