Which of the Following Is True of Factor Endowments According

question 1

Multiple Choice

Which of the following is true of factor endowments according to Porter?

• A) Basic factors, unlike advanced factors, are the most significant for competitive advantage.
• B) Basic factors can be upgraded by nations, while advanced factors are endowed by nature.
• C) The initial advantage provided by advanced factors is extended by investment in basic factors.
• D) Disadvantage in basic factors can create pressures to invest in advanced factors.
• E) Advanced factors include climate, location, and demographics.

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Definitions:

Independent Samples

Multiple sets of data that are independently chosen from a population without affecting each other.

Pooled Estimate

A method in statistics used to combine different estimates of the same parameter to find a single, more precise estimate.

Standard Error

A statistical measure of the variance or standard deviation of a sample mean, indicating the precision with which a sample represents a population.

Assembly Lines

Manufacturing processes in which parts are added to a product in a sequential manner using optimally planned workflows to create a finished product much faster than with traditional methods.