Competitive advantage is the ability to produce a good or service more cheaply,relative to other goods and services,than is possible in other countries.

Question

Quizplus · Accepted Answer

Competitive advantage refers to the ability of a company or a country to produce goods or services at a lower opportunity cost than its competitors, not necessarily more cheaply in absolute terms. It encompasses a broader range of factors including quality, brand, innovation, and efficiency.

Competitive Advantage Is the Ability to Produce a Good or Service