How did Porter define technology, human resources, and firm infrastructure?
What will be an ideal response?
Porter defined technology broadly. It includes research and development, but it also
includes other activities within the firm for developing new techniques, methods, and
procedures. Human resources include recruiting, compensation, evaluation, and training of fulltime and part-time employees. Firm infrastructure includes general management, finance,
accounting, legal, and government affairs.
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Figure 4.3 represents the domestic market for gasoline in the United States. What is the consumer surplus in this market?
a. 60 gallons of gasoline
b. $120
c. $60
d. $3
Qualitative research procedures are classified as either direct or indirect
Indicate whether the statement is true or false
Historical costs include all of the following except:
a. acquisition costs for assets b. net realizable values for assets. c. adjusted acquisition costs for assets. d. initial present value for assets and liabilities
The modern definition of accounting focuses on the role of accounting in making economic decisions rather than on how to do accounting
Indicate whether the statement is true or false