The Origin of Competitive Advantage Lies in the Ability to

question 19

Multiple Choice

The origin of competitive advantage lies in the ability to

• A) gain major stockholders.
• B) identify and respond to environmental change well in advance of competition.
• C) launch products quickly.
• D) serve customers faster.
• E) create surprise for others.

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Definitions:

Supply

The total amount of a product or service available for purchase at any given price or time.

Coefficient Of Elasticity

A measure used in economics to show how much the quantity demanded or supplied of a good responds to a change in its price or income level.

Special Sale

A promotional offer that temporarily reduces the price of items or services to encourage purchases.

Price Range

The spread between the highest and lowest selling price of a good or service in a market over a certain period of time.