Anything that gives a firm a lead over its rivals is called ________.
A) economies of scale
B) business growth
C) differentiation
D) competitive advantage

Question

Quizplus · Accepted Answer

Competitive advantage is the term used to describe the factors that give a firm an advantage over its competitors. This can include things like lower costs, better product quality, superior marketing, or a unique product or service offering. Options A and B are related to growth and efficiency, but do not necessarily provide a competitive advantage. Option C, differentiation, is a common strategy to achieve a competitive advantage by offering unique features or benefits that set a product or service apart from others. However, as a standalone answer, D is the most accurate description of a lead over rivals.

Anything That Gives a Firm a Lead Over Its Rivals