A Competitive Advantage Based on Inimitability Can Be Sustained for at Least

question 5

Multiple Choice

A competitive advantage based on inimitability can be sustained for at least some time if it has the following characteristics

• A) Physical uniqueness, path dependency, causal ambiguity, and social complexity.
• B) Psychographic uniqueness, path dependency, causal ambiguity, and substitutability.
• C) Rarity, path dependency, causal ambiguity, and social substitutability.
• D) Geographic uniqueness, cause dependency, social ambiguity, and path complexity.

Understand the principles of personal finance and investment strategy.

Grasp the basics of supply, demand, and price elasticity.

Understand the impact of substitute goods on market demand.

Explain consumer surplus and producer surplus in a market transaction.

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Definitions:

Working Memory

An intellectual capacity system with limitations, meant for short-duration information retention for processing requirements.

Implicit

Something understood or implied without being stated openly; often refers to unconscious attitudes or beliefs.

Sensory

Relating to or involving the senses or sensation.

Procedural Memory

A type of long-term memory involved in the unconscious memory of skills and how to perform certain procedures.