________ Occurs When a Company Compares Its Current Performance Against

question 182

Multiple Choice

________ occurs when a company compares its current performance against its own past performance, while ________ occurs when a company compares its current performance against the performance of its competitors.

• A) Internal productivity; external productivity
• B) Internal benchmarking; external benchmarking
• C) Internal benchmarking; getting close to the customer
• D) Statistical process control; external productivity
• E) Internal quality/cost study; external quality/cost study

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Definitions:

Injection

Any spending other than by households or any income other than from resource earnings; includes investment, government purchases, exports, and transfer payments.

Circular Flow

An economic model that illustrates the continuous movement of goods, services, and money between producers and consumers in an economy.

Circular Flow Model

A diagram that illustrates the movement of goods, services, and money between households and businesses in the economy.

Resource Market

The resource market is where raw materials, labor, and capital resources are traded, enabling firms to produce goods and services and reflecting the interaction between supply and demand for resources.