Much Like an Army Under Attack, Firms Using the _____

question 52

Multiple Choice

Much like an army under attack, firms using the _____ strategy hope to make just a small retreat rather than losing a battle for survival.

• A) blue ocean
• B) diversification
• C) integration
• D) retrenchment
• E) disintermediation

---

Definitions:

Productivity

The efficiency with which goods and services are produced, typically measured in terms of output per labor hour.

Living Standards

Refers to the level of wealth, comfort, material goods available to a person, group, or nation, similar to the standard of living.

Human Capital

The collective skills, knowledge, and other intangible assets of individuals that can be used to create economic value.

Productivity

A measure of the efficiency of production, often calculated as the ratio of output to inputs in the production process.