In the Resource-Based Model,which of the Following Factors Would Be

question 108

Multiple Choice

In the resource-based model,which of the following factors would be considered a key to organizational success?

• A)unique market niche
• B)weak competition
• C)economies of scale
• D)skilled employees

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Definitions:

Positive Economics

The branch of economics that concerns the description and explanation of economic phenomena, focusing on facts and cause-and-effect relationships without making judgments.

Normative Economics

The branch of economic analysis that makes prescriptions about the way the economy should work.

Allocatively Efficient

A situation where resources are distributed in a way that maximizes the net benefit to society, often where marginal cost equals marginal benefit.

Productively Efficient

A situation where goods or services are produced at the lowest possible cost, maximizing the allocation of resources.