Anything That a Firm Does Especially Well Compared to Rival

question 31

Multiple Choice

Anything that a firm does especially well compared to rival firms is referred to as

• A) competitive advantage.
• B) comparative disadvantage.
• C) opportunity cost.
• D) unsustainable advantage.
• E) an external opportunity.

---

Definitions:

Variances

Statistical measures reflecting the dispersion or spread of a set of data points or how far each value in the set is from the mean.

Covariance

A measure that indicates the extent to which two variables change together; if they increase or decrease similarly.

Coefficient Of Correlation

An index that measures the magnitude and direction of a straight-line association between two variables.

Coefficient Of Correlation

An analytical tool that evaluates the strength of the association between the relative shifts of two variables.