Which of the Following Best Defines a Distinctive Competence

question 3

Multiple Choice

Which of the following best defines a distinctive competence?

• A) It is what a company can make, do, or perform better than its competitors.
• B) It is creating or acquiring companies in completely unrelated businesses.
• C) It is the extent to which a competitor has similar amounts and kinds of resources.
• D) It is the competitive move designed to reduce a rival's market share or profits.

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Definitions:

Equilibrium Price

The price point at which the market's supplied and demanded goods quantities meet.

Surpluses

Occurs when the quantity of a good or service supplied exceeds the quantity demanded at a specific price; the opposite of shortages.

Shortages

A situation in which the demand for a product or service exceeds the supply available at a particular price.

Quantity Supplied

Refers to the amount of a good or service that producers are willing and able to sell at a given price during a specific period.