Vertical integration describes:

Question $4$Select one:

a$.$

When a firm extends into new businesses forwards or backwards in the industry$$s value chain by acquiring a supplier or a customer.

b$.$

When a firm vertically invests in its existing value chain activities both up and downstream.

c$.$

When a firm extends into new business by pursuing forward integration.

d$.$

When a firm invests in existing businesses by pursuing backward integration.