A _____ Is a Plan of Action to Improve the Ability

question 29

Multiple Choice

A _____ is a plan of action to improve the ability of each of an organization's departments to perform its task-specific activities in ways that add value to an organization's goods and services.

• A)corporate-level strategy
• B)divisional-level strategy
• C)functional-level strategy
• D)business-level strategy
• E)branch-level strategy

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Definitions:

Trade

The action of buying, selling, or exchanging goods and services between people, firms, or countries.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay.

International Trade

The exchange of goods, services, and capital among various countries and territories, crossing their international borders.

Absolute Advantage

The ability of a country, individual, or group to produce a good or service more efficiently than competitors, using fewer resources.