One of the Criteria for Creating a Competitive Advantage Through

question 79

Multiple Choice

One of the criteria for creating a competitive advantage through human resources is that they should be

• A) expensive.
• B) easily available.
• C) difficult to imitate.
• D) spontaneous.
• E) commonplace

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Definitions:

Quantity Demanded

The total amount of a commodity that consumers are willing to purchase at a specific price point, at a given time.

Perfectly Elastic

A situation in economics where a small change in price leads to an infinite change in quantity demanded or supplied.

Inelastic

Refers to a scenario where the supply or demand for a product or service shows little to no reaction to price fluctuations.

Supply Curve

A graphical representation of the relationship between the price of a good and the quantity of the good that suppliers are willing and able to sell, with price typically on the vertical axis and quantity on the horizontal axis.