The Resource-Based View of Organizations States That People Are Valuable

question 11

Multiple Choice

The resource-based view of organizations states that people are valuable assets because their knowledge, skills, and abilities are rare and also because people are ________.

• A) inimitable
• B) easily available
• C) easy to train
• D) good followers
• E) infallible

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Definitions:

Work Efficiently

The performance of tasks in a manner that maximizes productivity while minimizing waste of time and resources.

Average Total Cost Curve

A graphical representation showing how the total cost of producing different quantities of a good divides by the quantity of goods produced, indicating the average cost per unit.

Corporate Income Taxes

Taxes imposed on the income or profit of corporations by the government.

Average Variable Cost

The sum of all costs that vary with production volume, split by the number of units produced.