When a Firm Combines __________ and ___________ It Builds Core

question 42

Multiple Choice

When a firm combines __________ and ___________ it builds core competencies.

• A) resources; capabilities
• B) activities; processes
• C) capabilities; skills
• D) knowledge; information

---

Definitions:

Monopolistic Competitor

A firm in a market where many competitors sell products that are differentiated from one another and hence are not perfect substitutes.

Pure Competitor

A market condition where many small firms sell identical products, and no single seller can influence the market price.

Marginal Resource Cost Curve

A graphical representation showing the change in total cost incurred by a firm when it utilizes an additional unit of an input or resource.

Competitive Labor Market

A competitive labor market is characterized by numerous employers and workers where no single entity has the power to influence wages, ensuring efficient allocation of labor.