​The Resource Based Perspective Indicates That Firms Exhibit Different Performances

question 14

Multiple Choice

​The resource based perspective indicates that firms exhibit different performances within the same industry because

• A)​Some firms have better resources than others
• B)Some firms have organizational structures that can be duplicated
• C)Some firms sell goods that have a more elastic demand
• D)​Some firms sell goods that have a perfectly elastic demand

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Definitions:

Binding Obligations

Duties or agreements that are legally enforceable, requiring parties to fulfill their contractual commitments.

Unlimited Personal Liability

A legal obligation that holds an individual personally responsible for all debts and obligations of a business, without any limit on the amount that can be claimed.

Duty Of Care

A legal obligation imposed on an individual requiring that they adhere to a standard of reasonable care while performing any acts that could foreseeably harm others.

Honest Mistake

An error made in good faith without the intention to deceive or cause harm.