A Firm's Resource Is Most Likely to Be an Internal

question 107

Multiple Choice

A firm's resource is most likely to be an internal strength and a core competency when the resource is

• A) valuable but common.
• B) valuable and costly to imitate.
• C) easily accessible and mobile.
• D) easy to substitute.

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Definitions:

Wage and Price Controls

Government-imposed restrictions on the levels at which wages and prices can be set, usually to control inflation.

Inflation

A general increase in prices and decrease in the purchasing value of money.

Pure Capitalist Economy

An economic system characterized by private ownership of resources and the use of market mechanisms to allocate goods and services with minimal government intervention.

Government Role

The activities, responsibilities, and powers of a government in shaping society, economy, and ensuring public welfare.