Competitive Advantage Is Generally the Amount by Which One Firm's

question 45

True/False

Competitive advantage is generally the amount by which one firm's profitability exceeds another's in the same industry.

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Definitions:

Business Spending

The expenditure by businesses on goods and services, including capital goods and labor.

Consumer Spending

The total amount of money spent by consumers on goods and services within an economy.

Recession

Cyclical economic contraction that lasts for six months or longer.

Deregulation

Regulatory trend toward elimination of legal restraints on competition in industries previously served by a single firm in an attempt to improve customer service and lower prices through increased competition.