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The Continual Process of Measuring Products,services,and Practices Against the Toughest

question 99

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The continual process of measuring products,services,and practices against the toughest competitors or those companies recognized as industry leaders is


Definitions:

Capital Quality

The degree of excellence of physical and intellectual assets used in the production of goods or services, affecting overall productivity and efficiency.

Simon Kuznets

An economist known for his work on economic growth and for formulating the concept of Gross Domestic Product (GDP) as a measure of national income.

Economic Growth

An increase in the production of goods and services in an economy, typically measured by GDP.

Quality of Resources

The effectiveness, efficiency, and skills of economic resources, including labor, capital, and natural resources.

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