Which of the Following Is Least Likely to Meet the Criteria

question 22

Multiple Choice

Which of the following is least likely to meet the criteria for strategic resources?

• A) A firm's raw material inventory
• B) A firm's organizational culture
• C) A firm's reputation
• D) A firm's intellectual properties
• E) A firm's employees' skills

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Definitions:

Natural Monopoly

A market condition where due to high fixed costs or unique resources, a single company can supply a product or service at a lower cost than any potential competitor, thus dominating the market.

Unit Costs

The price a business incurs for the production, storage, and distribution of a single unit of a certain product or service.

Minimum Efficient Scale

The smallest amount of production a company can achieve while still taking full advantage of economies of scale regarding costs per unit of output.

Diseconomies of Scale

The condition when a company grows so large that the costs per unit increase, causing a decrease in efficiency.