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question 54

Multiple Choice

_{81. A exists when there is a gap between a desired state (what managers want) and an existing state (the}
Situation that the managers are facing) .

• A) service gap
• B) benchmark
• C) condition of uncertainty
• D) minimum threshold
• E) problem

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Definitions:

Specialization

The situation in which each person specializes in the task that he or she is good at performing.

Absolute Advantage

The ability of an individual or economy to produce a good or service more efficiently than competitors using the same amount of resources.

Cars

Motor vehicles with four wheels designed primarily for passenger transportation and commonly powered by internal combustion engines.

Absolute Advantage

The ability of an individual, company, or country to produce a good or service more efficiently than competitors, using fewer resources.