Which of the Following Represents a Reason Why Competitive Advantages

question 116

Multiple Choice

Which of the following represents a reason why competitive advantages are typically temporary?

• A)The competitor will hire away your key employees.
• B)The competitor quickly seeks ways to duplicate your business operations.
• C)The competitor will purchase new technology.
• D)All of the above.

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Definitions:

Allocation

The process of distributing resources or goods among various uses or people in a systematic way.

Market For Butter

The venue or environment where buyers and sellers interact to trade butter, determined by factors like price, quality, and availability.

Price Floor

A government or group-imposed price control that sets the minimum allowable price a seller can charge for a product or service.

Binding Price Ceilings

A legally imposed maximum price on goods or services that is below the equilibrium price, causing shortages and rationing.