Core Competencies Tend to Refer to Areas of Special Technical

question 24

Multiple Choice

Core competencies tend to refer to areas of special technical and production expertise, whereas ________ tend to describe excellence in broader business processes.

• A) process benchmarks
• B) distinctive capabilities
• C) distributive capabilities
• D) facultative benchmarks
• E) concentric capabilities

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Definitions:

Average Total Cost

The total cost of production divided by the total quantity produced, representing the per-unit cost of production.

Long-Run Equilibrium

A state in which all factors of production and economic variables are in balance, with no external pressures forcing change.

Demand Decreases

A situation where the quantity of a product or service that consumers are willing to buy at a given price drops, often due to changes in preferences, income, or substitutes.

Industry Exit

The process or act of businesses leaving a particular market or industry, often due to unfavorable conditions or better opportunities elsewhere.