________ is an economic measure of efficiency that summarizes the value of outputs relative to the value of the inputs used to create the outputs.
A) GNP
B) Productivity
C) Turnover ratio
D) Return on investment
Question 2
Executives at Moxley Manufacturing want to improve the firm's productivity. Which of the following would most likely help Moxley achieve this goal?
A) decrease costly R&D investments
B) improve performance appraisals
C) increase employee involvement
D) encourage union participation
Question 3
Buying an input is most sensible when there is a(n) ________ potential for competitive advantage and a(n) ________ degree of strategic vulnerability.
A) high; moderate
B) intermediate; moderate
C) high; low
D) low; low
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