What Are the Two Most Important Factors Influencing a Company's

question 10

Multiple Choice

What are the two most important factors influencing a company's competitiveness?

• A) Productivity and quality
• B) Productivity and safety
• C) Quality and safety
• D) Added value and productivity
• E) Location and marketing

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Definitions:

Contract

A legally binding agreement between two or more parties that outlines the terms and conditions for the exchange of goods, services, or other forms of consideration.

Statute of Frauds

A legal principle requiring certain types of contracts to be in writing and duly signed by all parties involved, to be enforceable.

Promissory Estoppel

A legal principle that prevents a party from going back on a promise, even if it was not formally agreed to in a contract, if someone else has relied on that promise to their detriment.

Tort of Deceit

A legal cause of action that arises when one party intentionally lies or misrepresents a material fact with the intent to deceive another, causing harm.