Firms Can Create ________ When They Are Able to Perform

question 6

Multiple Choice

Firms can create ________ when they are able to perform value chain activities more effectively or efficiently than their competitors.

• A) consumer loyalty
• B) core competencies
• C) logistical strengths
• D) competitive advantage

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Definitions:

Lending Funds

The act of providing financial resources to individuals, businesses, or other entities with the expectation of future repayment with interest.

Double Coincidence of Wants

A situation in barter economies where two parties each hold an item the other wants, allowing for a direct exchange.

Medium of Exchange

An instrument or system used to facilitate the sale, purchase, or trade of goods between parties.

Welfare Banks

Financial institutions or programs designed to support low-income individuals or families, offering services like microloans or savings accounts with beneficial terms.