Abilities That Companies Compete on That Are Difficult for Competitors

question 53

True/False

Abilities that companies compete on that are difficult for competitors to replicate are known as capabilities.

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Definitions:

Rationing Mechanism

a system or policy by which scarce goods or services are distributed.

Market Economies

Market economies are economic systems in which economic decisions and the pricing of goods and services are guided solely by the aggregate interactions of a country's citizens and businesses with minimal government intervention.

Adjustment

The process of modifying something to achieve a desired outcome, often used in the context of economic policies, mechanisms, or personal changes.

Equilibrium Price

The price at which the quantity of a product offered is equal to the quantity of the product in demand.