One of the Main Advantages of a Skill-Based Plan Is

question 19

True/False

One of the main advantages of a skill-based plan is that it can match people to a changing workflow more easily.

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Definitions:

Comparative Advantage

The ability of an individual, company, or country to produce a good or service at a lower opportunity cost than competitors.

Opportunity Cost

The cost of foregone alternatives when a decision is made, representing the benefits that could have been gained by choosing the next best alternative.

Labor-intensive

Refers to a type of industry or process that requires a large amount of human labor to produce goods or services, as opposed to being heavily automated.

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than its competitors.