What Is a Competitive Advantage

question 109

Multiple Choice

What is a competitive advantage?

• A) A product that an organization's customers place a lesser value on than similar offerings from a competitor.
• B) A feature of a product or service on which customers place a lesser value than they do on similar offerings from a supplier.
• C) A service that an organization's customers place a lesser value on than similar offerings from a supplier.
• D) A feature of a product or service on which customers place a greater value than they do on similar offerings from competitors.

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Definitions:

Straight-Line Depreciation

A method used in accounting to allocate the cost of a tangible asset over its useful life evenly.

Electricity Costs

The financial charges for the consumption of electrical energy by a business, forming part of its operating expenses.

Factory Supervisor

A managerial position responsible for overseeing the daily operations of a manufacturing facility, ensuring production targets are met efficiently.

Mixed Cost

A cost composed of a fixed and a variable component and changes in total in response to activity level changes.