A(n) _____ Is Any Advantage That Comes to a Firm

question 68

Multiple Choice

A(n) _____ is any advantage that comes to a firm because it exploits an opportunity before any other firm does.

• A) comparative advantage
• B) first-mover advantage
• C) economic moat
• D) absolute advantage
• E) core competency

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Definitions:

Sales Tax

Sales tax is a government-imposed levy on the sale of goods and services, paid by the purchaser at the time of sale.

Excise Tax

A tax charged on specific goods and services, such as tobacco, alcohol, and fuels, often intended to discourage their use or generate revenue.

Local Governments

Administrative bodies that manage and govern specific areas within a country, such as cities, towns, or regions, often responsible for local services and laws.

Federal Spending

Refers to the total amount of money the federal government expends on various programs, services, and debt interest.