Value-Added Refers To

question 35

Multiple Choice

Value-added refers to:

• A) the cost of inputs.
• B) the price of outputs.
• C) the difference between cost of inputs and what customers are willing to pay.
• D) the extra profit obtained from increased productivity.
• E) all of the choices are correct.

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Definitions:

Crystallized Intelligence

The proficiency in deploying acquired knowledge and experiential learning.

Fluid Intelligence

the ability to think abstractly, reason, identify patterns, solve problems, and discern relationships without relying on acquired knowledge.

Working Memory

The capacity of the brain to hold and manipulate information in the short term for cognitive tasks such as learning, reasoning, and comprehension.

Short-Term Memory

A part of the memory system where small amounts of information can be kept for a short period of time, typically from a few seconds to a minute.