_____ improves exchangeability, and reduces the cost of obtaining information about a good and about the parties involved in the transaction.
A)De-integration
B)Outsourcing
C)Vertical integration
D)Standardization

Question

Quizplus · Accepted Answer

Standardization refers to the process of establishing a common standard for a product, service or process, which improves exchangeability and simplifies the process of obtaining information about the good and parties involved in the transaction. This can result in reduced transaction costs and improved efficiency in the supply chain.

_____ Improves Exchangeability, and Reduces the Cost of Obtaining Information