Final answer:
The four basic elements of the systems perspective are inputs, transformation processes, outputs, and feedback, which are key to the theory of the firm and the production of goods and services. Option b.
Step-by-step explanation:
The four basic elements of the systems perspective are inputs, transformation processes, outputs, and feedback (b). This concept is crucial to understanding how businesses operate and manage their resources. A firm, which is an entity that combines various inputs including labor, capital, land, and materials, goes through transformation processes to produce outputs. If a firm is efficient, these outputs should be more valuable than the inputs. This concept encompasses not just manufacturing, but also services such as transportation, distribution, wholesale, and retail sales. The idea of a systems perspective is central to the theory of the firm, helping to better understand the interconnectedness and functionality of different organizational components, leading to the production of goods and services.