Unlike Valuable Resources, Rare Resources

question 57

Multiple Choice

Unlike valuable resources, rare resources:

• A) do not improve a firm's efficiency and effectiveness.
• B) are susceptible to changes in customer demands and preferences.
• C) need not be nonsubstitutable resources to produce a competitive advantage.
• D) are not controlled or possessed by many competing firms.

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Definitions:

Article III

Pertains to the section of the United States Constitution that establishes the judicial branch of the federal government.

Constitution

The fundamental principles and established precedents according to which a state or other organization is governed.

Opinion

A belief or judgment formed about something, not necessarily based on fact or knowledge, and often subjective.

Case Law

The body of law consisting of judicial interpretations, decisions, and precedents, which guides future judgments on similar issues.