Examlex
Economists classify all of the following as capital, except one.Which one is not capital?
Open Systems Model
An approach that views an organization as an entity that interacts with its external environment, exchanging resources, information, and influences.
Transformation Process
The series of actions taken to convert inputs (resources) into outputs (products or services) in business or manufacturing environments.
Feedback Loop
A feedback loop is a process in which the outcomes of a system are circled back and used as inputs for future actions, allowing for continual adjustment and improvement.
External Environment
The conditions, entities, events, and factors surrounding an organization that influence its activities and choices, such as economic conditions, competitors, and regulations.
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