Typical Inputs to the Transformation Process Include

question 49

Multiple Choice

Typical inputs to the transformation process include:

• A)tangible goods.
• B)satisfied customers.
• C)intangible needs.
• D)fulfilled needs.

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Definitions:

Simon Kuznets

A Ukrainian-American economist who made significant contributions to the study of economic growth, the development of the concept of Gross National Product, and the statistical analysis of economic cycles.

Automobile Industry

A sector of the economy that deals with the design, production, and selling of motor vehicles.

Human Capital

The collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or their community.

Educated Labor Force

Individuals within the workforce who have achieved a certain level of education, thereby possessing skills and competencies that contribute to higher productivity and innovation.