An Effective Business Model

question 75

Multiple Choice

An effective business model

• A)involves how a company selects its customers.
• B)creates value for its customers.
• C)achieves and sustains a high level of profitability.
• D)produces goods and services.
• E)all of these choices.

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Definitions:

Productivity Of Labor

Productivity of labor measures the output that is produced per unit of labor employed, reflecting how efficiently labor resources are utilized in the production process.

Production Possibilities Frontier (PPF)

A curve depicting all the possible combinations of two goods that can be produced within an economy, given a set of inputs and technology, assuming efficiency in production.

Labor Deepening Technology

Refers to investments in technology that increase the productivity of each worker.

Standard Of Living

A measure of wealth, comfort, material goods, and necessities available to a person or community.