Competitive Advantage Refers to the ________

question 12

Multiple Choice

Competitive advantage refers to the ________.

• A) belief that national prosperity is the result of a positive balance of trade, achieved by maximizing exports and minimizing imports
• B) superior features of a country that provide unique benefits in global competition, typically derived from either natural endowments or deliberate national policies
• C) distinctive assets or competencies of a firm that are difficult for competitors to imitate and are typically derived from specific knowledge, capabilities, skills, or superior strategies
• D) relative absence of restrictions to the flow of goods and services between nations

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Definitions:

Confirmation Bias

The inclination to seek out, comprehend, prioritize, and recall facts in a manner that corroborates one's established beliefs or conjectures.

Framing Effect

A cognitive bias where people decide on options based on whether the choices are presented with positive or negative connotations.

Confirmation Bias

A cognitive bias that influences individuals to favor information or interpretations that confirm their preexisting beliefs or hypotheses.

Preconceptions

Preformed opinions or beliefs, often without basis in fact or experience, that influence one's perception.