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Questions and Answers
Competitiveness is the effectiveness of an organization in the marketplace relative to ______ competitors.
Competitiveness is the effectiveness of an organization in the marketplace relative to ______ competitors.
direct
[Blank] are the resources used to create outputs such as labor, materials and capital.
[Blank] are the resources used to create outputs such as labor, materials and capital.
Inputs
Productivity is the effective use of ______.
Productivity is the effective use of ______.
resources
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Study Notes
Key Concepts in Business
- Competitiveness refers to the effectiveness of an organization in the marketplace relative to its competitors.
- Factors of production are the resources used to create outputs such as labor, materials, and capital.
- Productivity is the effective use of factors of production.
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