Briefly Describe the FOUR Primary Perspectives of the Balanced Scorecard

question 12

Essay

Briefly describe the FOUR primary perspectives of the balanced scorecard.

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Definitions:

Positive Economics

The branch of economic analysis that describes the way the economy actually works.

Production Possibility Frontier

A visual map outlying the highest possible production levels for two goods, considering a defined compilation of resources and other relevant factors.

Minimum Quantity

The smallest amount of a product that can be ordered or purchased at one time.

Gain From Trade

The advantage or improvement in outcome that countries or individuals achieve through the act of trading goods or services.