Trade

question 4

Multiple Choice

Trade

• A)allows specialization, which increases costs.
• B)allows specialization, which reduces costs.
• C)reduces specialization, which increases costs.
• D)reduces specialization, which reduces costs.

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Definitions:

Competitive Advantage

A unique attribute or capability that enables an organization to outperform its competitors.

Human Resources

A department within an organization that handles recruitment, management, and direction for the people who work in the organization.

Physical Resources

Tangible assets used by a company to operate and produce goods or services, including buildings, machinery, and equipment.

Differentiation Strategy

A business approach where a company seeks to distinguish its products or services from competitors through unique features.