A Wide Variety of Firm Resources That Are Costly to Imitate

question 21

Multiple Choice

A wide variety of firm resources that are costly to imitate due to the social engineering that is required being beyond the capability of competitors include interpersonal relations among managers in the firm,its culture,and its reputation with its suppliers and customers.Such competitive advantages are based upon

• A) path dependency.
• B) social complexity.
• C) physical uniqueness.
• D) tangible resources.

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Definitions:

Empresarios

Agents who were granted the right to settle on land in exchange for recruiting and taking responsibility for new settlers; used notably in the context of Mexican Texas.

Industrial Revolution

A period of major industrialization that took place during the late 1700s and early 1800s, changing economies and societies.

Market Economy

A system where economic decisions and pricing of goods and services are guided by the interactions of citizens and businesses in a free market.

Supreme Court

The highest federal court in the United States, having ultimate appellate jurisdiction over all federal and state court cases that involve a point of federal law.