Distinguish between a plant, a firm, and an industry. Contrast a vertically integrated firm, a horizontally?

Question

integrated firm from which you have recently made a purchase.

Answer 1

A plant manufactures stuff, like tampons or cars. A firm is just a company that does any kind of business. It may not manufacture anything. For example, Fed Ex just delivers packages. It does not manufacture anything, really. An industry is a group of firms, plants, contractors, buyers, sellers, etc. who all deal in the same type of thing. For example the entertainment industry consists of TV stars, movie stars, the people who watch TV and movies, the people who sell TV shows and advertise movies, and so on.

Vertically integrated firms own everything they need to stay in business. For example, a vertically integrated restaurant would grow its own food, have its own generator, own the property, manufacture its own dishes, forks, knives, spoons, tablecloths, and so on. A horizontally integrated firm is one which owns or controls other big firms that do the same type of business. For example, AT&T is horizontally integrated. It owns or controls most of the big phone companies. I am sure you have done business with AT&T. Almost any mom-and-pop store is vertically integrated.

Answer 2

a plant is a production unit this is operated by ability of an enterprise. What the plant does constitutes industry. as an occasion the plane industry, includes many distinctive companies that perform production flowers. Or, The employer is BOEING plane employer. They very own quite a few flowers througout the rustic. The industry is ordinarily the assembly of airplanes. different companies in that industry perform different flowers that are in opposition with Boeing.

Answer 3

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