Which element of national competitive advantage theory divides resources into two groups: basic and advanced?
A) demand conditions
B) factor conditions
C) related and supporting industries
D) firm, strategy, structure, and rivalry

Question

Quizplus · Accepted Answer

Factor conditions is the element that divides resources into two groups: basic and advanced. Basic factors are those resources that are widely available in a country's natural endowment, such as natural resources, climate, location, and unskilled labor. Advanced factors are those that require investment and development, such as skilled labor, technology, and infrastructure.

Which Element of National Competitive Advantage Theory Divides Resources into Two