What Are the Terms on Which Porter Based His Model

question 20

Essay

What are the terms on which Porter based his model for choosing competitive strategies? What are the three competitive strategies cited by Porter?

---

Definitions:

Tariffs

Tariffs are taxes imposed by a government on imported or exported goods.

Quotas

Government-imposed trade restrictions that limit the quantity or monetary value of goods that can be imported or exported during a specified time.

Comparative Advantage

The ability of a country to produce a particular good or service at a lower opportunity cost than its trading partners.

Import Quota

A government-imposed limit on the quantity or value of goods that can be imported into a country.