Firms that create the same economic value as their rivals experience competitive parity.

Name: Firms that create the same economic value as their rivals experience competitive parity.
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Question

Quizplus · Accepted Answer

Competitive parity refers to the state in which firms in the same industry or market create equal economic value or perform similarly regarding their products, services, and other offerings. Hence, if two firms have the same performance levels when it comes to creating economic value, they experience competitive parity.

Firms That Create the Same Economic Value as Their Rivals