You Have an Absolute Advantage Whenever You

question 107

Multiple Choice

You have an absolute advantage whenever you

• A)are better educated than someone else.
• B)can produce more of something than others with the same resources.
• C)prefer to do one particular activity.
• D)can produce something at a lower opportunity cost than others.

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Definitions:

Intrinsic Motivation

The drive to do something because it is inherently interesting or enjoyable, without needing external reward or recognition.

Extrinsic Motivation

Motivation driven by external rewards such as money, fame, grades, or praise, in contrast to intrinsic motivation, which is driven by internal personal satisfaction.

Call Centre

A centralized office used for the purpose of receiving or transmitting a large volume of requests by telephone, often related to customer service.

EVA

Economic Value Added represents a metric for assessing a company's financial success, determined by subtracting the cost of capital from the operating profit to calculate the leftover wealth.