Capabilities Can Be Improved by All the Following Except

question 8

Multiple Choice

Capabilities can be improved by all the following except:

• A)hiring new people with the required new capabilities.
• B)training and developing existing people to improve their capability levels.
• C)improving activities,functions and systems to develop the required capabilities.
• D)making decisions to focus investments on diminishing manufacturing areas.

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Definitions:

Optimal Factor Choice

A decision-making process in which a firm determines the most efficient combination of factors of production (labor, capital, etc.) to maximize output or minimize costs.

Weak Axiom of Cost Minimization (WACM)

An economic principle stating that if a set of goods is chosen over another set at the same prices, then the chosen set should not cost more than the other when prices change.

Input Bundle

A combination of resources or inputs used in the production of goods and services.

Unit Costs

The cost incurred by a company to produce, store, and sell one unit of a particular product or service.