The Physical and Mental Talents People Bring to Production Processes

question 32

Multiple Choice

The physical and mental talents people bring to production processes comprise the resource called

• A) entrepreneurship.
• B) natural resources.
• C) capital.
• D) labor.

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Definitions:

Exploiting

Taking advantage of a situation or person, typically in an unfair or unethical manner, for one's own benefit.

Modular Organization

A flexible organizational structure that consists of separate business units or modules, each focusing on a different product or service area.

Decentralized

A system where operations or decisions are distributed among various locations or authorities rather than being concentrated in a single one.

Self-Managing Teams

Teams that operate without the direct supervision of managers and instead rely on the collective skills and insights of the team members to manage their tasks and processes.