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Compare and Contrast the Assumptions of Conventional Economics with Those

question 16

Essay

Compare and contrast the assumptions of conventional economics with those of the 'resource-based view' of competition.Can they be reconciled or are they contradictory?


Definitions:

Divergent Thinking

A thought process or method used to generate creative ideas by exploring many possible solutions.

Mental Image

A representation of sensory information or experiences in the mind, which can be visual, auditory, or related to other senses.

Mental Representation

An internal image or symbol in the mind that represents external reality or complex ideas, allowing for thought and problem-solving.

Common Properties

Characteristics or features that are shared by a group of objects, concepts, or entities.

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