Examlex
Which of the following is NOT one of the five generic competitive strategies?
Own Capital
Refers to the funds or resources that a business owner personally invests in their enterprise, as opposed to borrowed capital.
Fixed Factor
An input to the production process that cannot be easily increased or decreased in the short term.
Industry Entry
Refers to the process by which new competitors join an existing market, often affecting competition and market dynamics.
Economic Costs
The total cost of choosing one action over another, including both explicit costs (direct payment) and implicit costs (opportunity costs).
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