How Are the Critical Assumptions of the Resource-Based Model of a Firm

question 84

Multiple Choice

How are the critical assumptions of the resource-based model of a firm fundamentally different from the way in which a firm is viewed in the perfectly competitive industry structure?

• A) In the resource-based model, resources are freely available and mobile, whereas in the perfectly competitive industry structure, resources are highly immobile.
• B) In perfect competition, it is extremely difficult to replicate the resource bundles of a firm, whereas in the resource-based model, it is extremely easy to imitate them.
• C) In perfect competition, all firms have access to the same capabilities, whereas in the resource-based model, resource differences exist between firms in the same industry.
• D) In the resource-based model, only physical assets of a firm are considered as resources, whereas in perfect competition, a firm's capabilities and competencies are also considered as resources.

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Definitions:

Nursing Process

A systematic approach to deliver nursing care, involving assessment, diagnosis, planning, implementation, and evaluation.

Intellectual Courage

The willingness to engage with challenging ideas, question beliefs, and risk misunderstanding or criticism in pursuit of truth and understanding.

Intellectual Humility

The virtue of recognizing and admitting the limits of one's knowledge or understanding, while being open to new ideas.

Perseverance

Persistent determination in doing something despite difficulty or delay in achieving success.