________ Refer to Those Functions That an Organization Does as Well

question 358

Multiple Choice

________ refer to those functions that an organization does as well as, or better than, any other organization in the world.

• A) Primary functions
• B) Comparative strengths
• C) Residual functions
• D) Core competencies

---

Definitions:

Efficient Level

The optimal point at which a particular activity achieves the best output or outcome with the least waste of resources or effort.

Marginal Social Cost

The total cost to society of producing an additional unit of a good, including both private costs and any externalities.

External Cost

Costs of a transaction that affect people other than the buyer or seller, often not included in the price of goods or services.

Efficient Amount

The level of production or quantity of a good that optimizes the use of resources to achieve the highest possible satisfaction or benefits.