People Are a Source of Competitive Advantage When Their Skills,knowledge,and

question 28

True/False

People are a source of competitive advantage when their skills,knowledge,and abilities are not equally available to all competitors.

---

Definitions:

Additional Output

Refers to the extra amount of production a company or economy can generate when it utilizes additional resources or inputs.

Guaranteed Contracts

Agreements that ensure certain terms, such as payment or service delivery, regardless of future circumstances or performance.

Salaries

Regular payments made to employees for their labor or services, typically expressed as annual amounts but paid in smaller increments such as monthly or biweekly.

Variable Cost

Expenses that change in proportion to the level of production or sales in a company.