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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.
References in periodicals archive ?
I worship her and I am sorry about the condition she has, but I think she is wonderful for all the efforts she makes to help others and the way she always makes time for people.
PHOENIX -- He may have lists to check, presents to deliver and a pretty tight deadline to meet, but Santa Claws([R]) always makes time at PetSmart([R]) to get his picture taken with as many dogs, cats and other assorted creatures as possible.
It's the intersection of demography and Islamism that makes time a luxury we can't afford.
The singer says he still makes time to see the daughter of late ex-girlfriend Paula Yates, Tiger Lily.
A holiday teleflick might feature an armed robber, but as long as he makes time for his family, he'd be OK in their book.
TIME OUT: Jerry makes time for a photo with Suzanne and Jessica