Factors of Production in Porter's Model of International Competitive Advantage

question 43

Multiple Choice

Factors of production in Porter's model of international competitive advantage include all of the following EXCEPT:

• A) labor.
• B) capital.
• C) infrastructure.
• D) technology.

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Definitions:

Expected Value Criterion

A decision-making approach that aims to maximize the expected outcome by taking into account all possible variations in performance.

EVPI

Expected Value of Perfect Information, a measure in decision theory that quantifies the value of having complete information in the decision-making process.

Setup Costs

The expenses incurred to prepare a machine, process, or system for manufacturing a new batch or product.

Variable Costs

Expenses that change in proportion to the level of business activity or production volume, such as materials and labor costs.