The Degree of a Factor's Specificity Is Directly Related to

question 16

Multiple Choice

The degree of a factor's specificity is directly related to

• A) the cost of the factor as a proportion of the long-run total cost of production.
• B) technology differences between two countries, with a more advanced technology resulting in more factor specificity.
• C) the amount of time required to redeploy the factor to a different industry.
• D) factor quality, with higher quality factors having a higher level of specificity.
• E) the mobility of the factor, with more mobile factors having more specificity.

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Definitions:

Formal Means

Formal means involve structured, official, and typically documented methods or procedures used to accomplish tasks or maintain order in organizations.

Pay

Compensation or wages received by an employee in exchange for their labor or services provided to an employer.

Promotions

The process of elevating an employee to a higher position or rank within an organization, often accompanied by increased responsibilities and pay.

Negative Stimulus

Any factor or event that is perceived as unfavorable or unpleasant, which can lead to a response aimed at avoiding or diminishing it.