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make

or

buy

the decision by a firm on whether to make a component or product itself or to buy it from an external supplier (see OUTSOURCING). The decision will depend upon the combined production costs and TRANSACTION COSTS of the alternatives. Sometimes a firm may adopt mixes of the two policies, producing some quantity of the product itself and buying the remainder, depending upon the relative costs of the sources and security of supply considerations. See TRANSACTION for a more detailed discussion. See INTERNALIZATION, VERTICAL INTEGRATION.
References in classic literature ?
But the American cuckoo is in this predicament; for she makes her own nest and has eggs and young successively hatched, all at the same time.
Don't hold that confounded thing right under my nose; the mustard makes my eyes smart.
The last time we heard of monks and priests they were the friends of the people, doing their best to teach them and make them happy.
As I was coming along, our Portuguese pilot, who had always something or other to say to make us merry, told me he would show me the greatest rarity in all the country, and that I should have this to say of China, after all the ill-humoured things that I had said of it, that I had seen one thing which was not to be seen in all the world beside.
Tell me one thing, Mary," he resumed; "have I done anything to make you change your mind about me?
No god could make a finer looking fellow than you are, but you are a fool.
These gentlemen would do well to reflect that a treaty is only another name for a bargain, and that it would be impossible to find a nation who would make any bargain with us, which should be binding on them ABSOLUTELY, but on us only so long and so far as we may think proper to be bound by it.
An ambitious man might make his own aggrandizement, by the aid of a foreign power, the price of his treachery to his constituents.
This day I began to dig behind my tent into the rock, to make room for my further conveniency.
From Joppa, Jerusalem, the River Jordan, the Sea of Tiberias, Nazareth, Bethany, Bethlehem, and other points of interest in the Holy Land can be visited, and here those who may have preferred to make the journey from Beirut through the country, passing through Damascus, Galilee, Capernaum, Samaria, and by the River Jordan and Sea of Tiberias, can rejoin the steamer.
The shawl that was flung over her - we had not begun to hunt her with a shawl, nor to make our bodies a screen between her and the draughts, nor to creep into her room a score of times in the night to stand looking at her as she slept.
This Professor Bumper did, being able to make himself understood in the queer part-Spanish dialect used by the native Hondurians, though he could not, of course, speak it as fluently as had Jacinto.