Which of the Following Is a True Statement About Competitive

question 7

Multiple Choice

Which of the following is a true statement about competitive advantages?

• A) Tangible resources are more important than intangible resources.
• B) Tangible resources are more difficult to obtain than intangible resources.
• C) Valuable and substitutable resources increase long-term customer loyalty rates.
• D) Valuable and rare resources that are easily substituted provide short-term advantages.

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Definitions:

NAFTA

The North American Free Trade Agreement, a treaty entered into by the United States, Canada, and Mexico; it aimed at eliminating trade barriers between the three countries.

Multilateral Approach

A strategy involving multiple countries working together on a given issue or project, often used in international relations, trade agreements, and environmental policies.

Free Trade

A financial strategy that permits the trade of goods and services across borders without significant restrictions, tariffs, or bans.

Free Trade

The unrestricted purchase and sale of goods and services between countries without the imposition of constraints such as tariffs, duties, and quotas.