What Is the First Value-Adding Step in the Knowledge Business

question 11

Multiple Choice

What is the first value-adding step in the knowledge business value chain?

• A)Acquire
• B)Data and information acquisition
• C)Store
• D)Disseminate
• E)Apply

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Definitions:

Production Possibilities

A curve or frontier that shows the maximum combinations of goods or services that can be produced with a given set of resources and technology.

Marginal Product

The additional output that is produced by using one more unit of a factor of production, while holding other factors constant.

Customers Served

The number of individual clients or consumer accounts that a business has provided with goods or services.

Capital Costs

Expenses incurred in acquiring or upgrading physical assets such as buildings and machinery.