Fab Tools Inc

question 49

Multiple Choice

Fab Tools Inc.can produce 150 widgets and 100 axes in a month.Another company AllMyTools Inc.can produce 180 widgets and 50 axes per month.Which of the following statements is true?

• A)Fab Tools has a comparative advantage in the production of widgets.
• B)Fab Tools has an absolute advantage in the production of both goods.
• C)AllMyTools has a comparative advantage in the production of widgets.
• D)AllMyTools has an absolute advantage in the production of both goods.

Understand various business strategies like cost-leadership, focus strategy, and differentiation for competitive positioning.

Understand the concept of organizational foundation, including core values, mission or vision, and organizational culture.

Identify the role of marketing departments and how they listen to customers to inform decisions.

Comprehend the structure and purpose of cross-functional teams in solving organizational marketing problems.

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Definitions:

Instrumentality

The belief that a certain performance level is connected to achieving a desired outcome.

Expectancy Theory of Motivation

A psychological theory suggesting that people are motivated to engage in behaviors based on the expected outcomes and the value of those outcomes to them.

Administering an Unpleasant Outcome

The process of executing or delivering a negative or unfavorable result or decision.

Punish

The act of imposing a penalty or consequence on someone for their behavior or actions, often as a method of enforcing rules or discipline.