Competitive Advantage Is Improved When a Firm's

question 146

Multiple Choice

Competitive advantage is improved when a firm's:

• A) core competencies match external environmental opportunities.
• B) vision is benchmarked from industry-best practices.
• C) strategic moves match those of its best competitors.
• D) all of the answers are correct

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Definitions:

Inelastic Demand

A situation where the demand for a good or service is not significantly changed by changes in price.

Elastic Supply

A situation where the quantity supplied of a good or service changes significantly in response to changes in price, indicating flexibility in the production process.

Actual Incidence

The true distribution of a tax burden or the actual effect of a financial activity on different groups or entities.

Tax Burden

The measure of the total amount of taxes paid by individuals or businesses relative to their income, often used to assess the impact of taxation on economic well-being.