E-Business and Through the Use of Computer-Based Manufacturing Technologies Are

question 99

True/False

E-business and through the use of computer-based manufacturing technologies are two ways companies produce and distribute desirable goods and services more efficiently.

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Definitions:

Absolute Advantage

The ability of an entity to produce a good or service more efficiently than its competitors with the same resources.

Absolute Advantage

The ability of a country, individual, or firm to produce a good more efficiently than another entity, using fewer resources.

Fewer Resources

A situation or condition where there is a reduced availability of inputs or factors of production such as land, labor, and capital.

Comparative Advantage

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