A Business Can Create a Competitive or Comparative Advantage by Doing

question 67

Multiple Choice

A business can create a competitive or comparative advantage by doing all of the following EXCEPT ________.

• A) shifting funding away from worker training in order to increase profits
• B) promoting innovation throughout their organization
• C) accessing cheap raw materials
• D) purchasing state-of-the-art equipment
• E) investing in cutting-edge technology

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Definitions:

Price

The financial requirement for obtaining a service or good.

Supply Shifts

Movements of the supply curve to the left or right, indicating a change in the quantity supplied at a given price, caused by factors other than the price of the good itself.

Equilibrium Point

The market condition where demand for a product equals its supply, resulting in a stable price and quantity.

Soft Pretzels

A type of baked pastry made from dough that is commonly twisted into a knot shape and has a soft, chewy texture.