__________ Occurs When a Company Compares Its Current Performance Against

question 41

Short Answer

__________ occurs when a company compares its current performance against its own past performance, while _________ occurs when a company compares its current performance against the performance of its competitors.
Internal productivity; external productivity
Internal benchmarking; external benchmarking
Internal benchmarking; getting close to the customer
Statistical process control; external productivity
Internal quality/cost study; external quality/cost study

Recognize the importance of user costs in the economics of nonrenewable resource extraction.

Understand the concept of future value in relation to investment and profit planning.

Apply time-value of money analysis to evaluate investment in natural resources.

Explain the role of property rights in the conservation and extraction of resources.