Discuss the National Competitive Advantage Theory Including the Four Elements

question 61

Essay

Discuss the national competitive advantage theory including the four elements of national competitiveness.

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Definitions:

Sales Clerks

Employees in retail stores responsible for assisting customers, conducting transactions, and maintaining the arrangement of goods.

Customers Served

A measure of how many clients or customers a business, organization, or service has provided for in a given period.

Marginal Product

The additional output that can be produced by adding one more unit of a specific input, keeping all other inputs constant.

Production Possibilities

The different combinations of goods and services that an economy can produce given its available resources and technology.