The Capacity to Build and Protect Competitive Advantage Rests on

question 55

Multiple Choice

The capacity to build and protect competitive advantage rests on

• A) money.
• B) police surveillance.
• C) employee unions.
• D) knowledge assets and competencies.

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Definitions:

Capital Investment

The funds spent by a business to purchase, upgrade, or maintain physical assets such as property, industrial buildings, or equipment.

Total Product

The overall quantity of goods or services produced by a firm, using a given level of inputs, within a specific period.

Average Product

The output produced per unit of input, calculated by dividing total production by the number of input units.

Marginal Product

The additional output resulting from using one more unit of a particular input while holding all other inputs constant.