A(n)________ Advantage Is the Advantage of Conducting a Particular Economic

question 39

Multiple Choice

A(n) ________ advantage is the advantage of conducting a particular economic activity in a specific area because of the characteristics of that area.

• A)internalization
• B)ownership
• C)comparative
• D)location

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Definitions:

Decreasing-Cost Industries

Industries in which costs per unit decline as the scale of production increases, often due to efficiencies gained in the production process.

Legal Protection

Measures, laws, and regulations designed to safeguard individuals' rights, property, and well-being in a legal context.

Lead Innovation

The process of spearheading new developments and advancements in technology, products, or methods to gain a competitive edge.

Trade Secrets

Information that companies keep secret to give them an advantage over their competitors.