The Degree of a Factor's Specificity Is Inversely Related to

question 23

Multiple Choice

The degree of a factor's specificity is inversely related to

• A) the mobility of the factor, with more mobile factors having less specificity.
• B) the amount of time required to redeploy the factor to a different industry.
• C) the cost of the factor as a proportion of the long-run total cost of production.
• D) technology differences between two countries, with a less advanced technology resulting in less factor specificity.
• E) factor quality, with lower quality factors having a lower level of specificity.

---

Definitions:

Declarative Self-knowledge

The aspect of self-awareness that includes understanding one's own beliefs, values, traits, and feelings that can be consciously communicated.

Procedural Self-knowledge

Procedural self-knowledge relates to understanding the processes by which one can achieve specific outcomes, often linked to implicit, tacit knowledge about how to perform certain tasks.

Aspects

Aspects refer to the different features, dimensions, or components of a subject or concept.

Responsive Supply Chains

Supply chains that are designed to react swiftly and effectively to changes in market conditions, customer demands, and supply disruptions.