The Practice of Comparing the Company's Achievements Against the Best

question 140

Multiple Choice

The practice of comparing the company's achievements against the best practices in the industry is known as ________.

• A) segmentation
• B) goal congruence
• C) performance evaluation
• D) benchmarking

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Definitions:

Labor

The use of human labor, be it physical or intellectual, in generating goods and services.

MRTS

Marginal Rate of Technical Substitution. It's the rate at which one input can be reduced for every increase in another input, keeping output constant.

Labor

The application of human physical and mental efforts in the creation and offering of goods and services.

Capital

Assets that are used in the production of goods and services, often classified into physical capital (like machinery) and financial capital.