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make

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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.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
It's fair to say the blue N/S logo has become closely associated with high performance racers more so than with cruisers, but North makes sails for yachts in all sizes and price ranges, including many cruisi ngyachts.
It's fair to say the blue N/S logo has become closely associated with racing more so than with cruising, but North makes sails for yachts in all sizes and price ranges, including cruising yachts.
Taffeta finish also makes sails more durable for cruising, minimising chafe and cutting down ultra violet light damage.