Jam and Nuts Is Evaluating Their Resources So That They

question 41

Multiple Choice

Jam and Nuts is evaluating their resources so that they can compete with other companies.They have evaluated their plant,equipment,and geographic location.What other physical resource do they need to evaluate to complete this scan?

• A)Controlling system
• B)Technology
• C)Planning system
• D)Employee skill
• E)Experience of employees

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Definitions:

Efficiency

The ability to maximize output with minimum input, reflecting optimal allocation and utilization of resources.

Herfindahl Index

A measure of market concentration, calculated by summing the squares of the market shares of all firms in the industry.

Market Power

The ability of a firm or group of firms to influence the price or control the supply of a product or service in the market.