When a Company Is Good at Performing a Particular Internal

question 41

Multiple Choice

When a company is good at performing a particular internal activity,it is said to have

• A) a competitive advantage over rivals.
• B) a competitive capability.
• C) a distinctive competence.
• D) a resource-based strategy.
• E) a competence.

Examine the sociological significance of individual and social phenomena through theoretical frameworks.

Analyze the role of sociologists in questioning established norms and realities.

Discuss the impact of cultural and societal influences on individual lives and vice versa, as described by the sociological imagination.

Identify the contributions of classical sociological theorists to the understanding of modern society.

---

Definitions:

Marginal Revenue Product

The extra income produced by using an additional unit of a resource or input in the production process.

Wage Rate

The fixed amount of compensation or payment a worker receives from an employer in exchange for labor, typically measured per hour or piece of work done.

Diminishing Marginal Product

The decrease in the output of an additional unit of input when all other inputs are held constant beyond a certain point.

Marginal Product

The additional output gained from employing one more unit of a certain input, keeping all other inputs constant.