Match the Following

question 112

Multiple Choice

Match the following.You may use a response once,more than once,or not at all.
-Derived from the mission statement

• A)Mission statement
• B)Operational plans and goals
• C)Strategic plans and goals
• D)Tactical plans and goals

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Definitions:

Capitalism

An economic system in which productive resources are owned privately and goods and resources are allocated through market prices.

Exchange

The act of giving one thing and receiving another (especially of the same type or value) in return, often referring to the trading of goods, services, or currencies.

Comparative Advantage

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

Specialization

The process of concentrating on and becoming expert in a particular subject or skill within production or labor.