When a Firm Is Able to Create More Economic Value

question 38

Multiple Choice

When a firm is able to create more economic value than rival firms it is said to have a(n)

• A) comparative advantage.
• B) competitive advantage.
• C) residual advantage.
• D) economic advantage.

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Definitions:

Ego

A part of the mind that mediates between the conscious and the unconscious and is responsible for reality testing and personal identity.

Major Systems

Refers to the primary or dominant frameworks, organizations, or structures within a particular field or society.

Psychic Energy

Theoretical construct in psychology that represents the power or drive behind human thoughts, feelings, and behaviors.

Libido

A term primarily used in psychoanalytic theory to denote the sexual energy or drive within human beings.