Which Two Factors Help You to Identify Key Leverage Points

question 3

Multiple Choice

Which two factors help you to identify key leverage points for applying CPS?

• A)Time and People.
• B)Opportunities and Challenges.
• C)Supports and Distractions.
• D)Capability and Importance.

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Definitions:

Choices

The act of selecting between two or more possibilities or options in a decision-making process.

Rationing

Allocating a limited supply of a good or resource among people who would like to have more of it. When price performs the rationing function, the good or resource is allocated to those willing to give up the most “other things” in order to get it.

Scarcity

The essential economic dilemma revolves around the vastness of human aspirations contrasted with the limitations of available resources.

Comparative Advantage

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than other producers.