When a Worker Quits from a Steel Company and Joins

question 38

Multiple Choice

When a worker quits from a steel company and joins an automobile firm, what factor of mobility does this come under?

• A) movement of factors of production between firms within an industry
• B) movement of factors of production across industries
• C) movement of factors of production between countries within an industry
• D) movement of factors of production between countries across industries

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Definitions:

Concept Testing

The process of evaluating consumer response to an idea before introducing a product or service to the market, to ascertain its potential success.

Visual Models

Diagrams or representations used to illustrate complex information or processes, facilitating easier understanding and analysis.

Potential Product

The concept of what a product could become or the highest value that a product can deliver to a consumer, incorporating all possible augmentations and transformations the product might undergo.

Idea Generation

The creative process of generating, developing, and communicating new ideas, where an idea is understood as a basic element of thought that can be tangible or intangible.