Discuss a firm's competitive advantage. Identify when a firm has a competitive advantage and distinguish between a temporary competitive advantage and a sustainable competitive advantage
What will be an ideal response?
In general, a firm has a competitive advantage when it is able to generate more economic value than rival firms.. A temporary competitive advantage is a competitive advantage that lasts a very short period of time while a sustained competitive advantage lasts much longer.
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A product is introduced into a market, gains the acceptance of a fickle public, and finally is supplanted by a new and improved offering. This phenomenon is known as the:
A) Product life cycle. B) Rule of 80. C) Mendoza line. D) Beta.
Holding all else constant, when a bank receives the funds for a deposited check,
A) cash items in process of collection fall by the amount of the check. B) bank assets increase by the amount of the check. C) bank liabilities decrease by the amount of the check. D) all of the above occur.