To Gain a Competitive Advantage, a Firm Must Have the Organizational

question 67

True/False

To gain a competitive advantage, a firm must have the organizational ability to exploit their resources.

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Definitions:

Consumer Surplus

The difference in the total potential spending by consumers on a good or service versus the actual expenditure.

Trade

The exchange of goods or services between entities or individuals, often conducted internationally or domestically to mutual benefit.

Coffee

A beverage made from the roasted and ground seeds of a coffee plant, consumed globally for its stimulating effect.

Comparative Advantage

The concept that a country, individual, or company produces a good or service at a lower opportunity cost than their competitors.