According to Michael Porter's Research on the Competitive Advantage of Nations,human,physical,knowledge,capital,and

question 60

Multiple Choice

According to Michael Porter's research on the competitive advantage of nations,human,physical,knowledge,capital,and infrastructure resources are all components of a country's:

• A)factor conditions.
• B)demand conditions.
• C)strategy,structure,and rivalry.
• D)related and supporting industries.
• E)global conditions.

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Definitions:

Normative Statement

Describes expressions of what ought to be rather than what is, often reflecting opinions or prescriptions for policy rather than objective statements.

Legal Age

The age at which an individual is recognized by law as an adult and capable of accepting responsibility for actions.

Voting

A method for making collective decisions or expressing an opinion, often used in democracies to choose representatives or make policy decisions.

Normative Economics

An approach to economics that analyzes outcomes of economic behavior, evaluates them as good or bad, and may prescribe courses of action.