The I/O Approach to Competitive Advantage Advocates That External Factors

question 109

Multiple Choice

The I/O approach to competitive advantage advocates that external factors are ________ internal factors in a firm achieving competitive advantage.

• A) less important than
• B) equally important as
• C) more important than
• D) more common than
• E) less common than

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Definitions:

LIFO Method

An inventory valuation method that assumes the last items placed in inventory are the first sold during an accounting year.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials, labor, and overhead.

Weighted-Average

A calculation that takes into account the varying degrees of importance of the numbers in a data set, giving more weight to some numbers than others.