The notion of competitive advantage means that:
a. a successful firm will stake out a position unique in some manner from its rivals.
b. the advantage can be enjoyed only for a short period.
c. a company manufactures products which are similar to those of its competitors.
d. an established firm focuses solely on developing a low-price competitive advantage.
ANSWER: a
The notion of competitive advantage means that a successful firm will stake out a position unique in some manner from its rivals. Imitation by competitors indicates a lack of competitive advantage and almost ensures mediocre performance.
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RESPA covers
a. the listing agreement. b. the broker's commission. c. the Closing Disclosure form. d. the loan application form.
A summary description of a fixed characteristic or measure of the target population is called a ________
A) parameter B) standard deviation C) statistical inference D) normal distribution E) variance