In general,a firm has a competitive advantage when it is able to create more economic value than rival firms.

Question

Quizplus · Accepted Answer

This statement is generally true. A firm with a competitive advantage is able to generate more economic value through factors like lower costs, differentiation, better quality, or innovation than its rivals. This allows it to outperform its competitors and maintain its position in the market.

In General,a Firm Has a Competitive Advantage When It Is