Vocab I
Producing goods in-house
Insourcing
Acquiring goods from out-of-house
Outsourcing
Freshness is better when baking products from insourcing compared to outsourcing
True
Direct costs associated with the goods sold by a company
Cost of goods sold
The point where gains are equal to losses
Break-even Point
Quality control deals with being better than competitors
False
Costs related to the day-to-day operations of a business
General & Administrative Expenses
Expenses that varies with production output
Volume Variable Cost
What is it called when you are trying to reach a specific audience?
Target Market
Employing white-collar workers from abroad
Onshoring
Utilizing an outsourcing service provider located in a country other than where the client is located
Offshoring
To distribute the cost of something over time
Amortize
To oversee and evaluate the production process to ensure products are made correctly
Quality Control