Smith and Jones comprise a two-person economy.Their hourly rates of production are shown below.
-Based on the data,Smith has a(n) __________ advantage in __________ while Jones has a(n) __________ advantage in __________.
Definitions:
Extrinsic Environmental Components
External factors in the environment that can influence the behavior and decision-making processes of individuals or organizations.
Innovation
The process of creating new ideas, products, or methods, which can significantly change and improve the way things are done.
Creativity
The ability to produce original, innovative ideas, approaches, or solutions by thinking beyond traditional boundaries and patterns.
Originality
The quality of being novel or unusual; the ability to think independently and creatively.
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