According to the VRIO Framework,a Firm Can Gain a Competitive

question 35

Multiple Choice

According to the VRIO framework,a firm can gain a competitive advantage if it has resources that are _____ and captured by an organized firm.

• A) varied, refined, costly to introduce
• B) valuable, refined, costly to introduce
• C) valuable, rare, costly to imitate
• D) varied, rare, costly to imitate

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Definitions:

Philosopher

An individual who seeks knowledge and understanding about fundamental questions of existence, ethics, knowledge, and reality.

Satisfaction

A feeling of fulfillment or contentment with one's achievements, possessions, or state of being.

Social Planner

A theoretical figure in economics who makes decisions aimed at achieving the best outcomes for society as a whole, often used in discussions of social welfare and public goods.

Total Income

The sum of all earnings received by an individual or entity, including wages, salaries, profits, rental income, investment returns, and other sources.