A <u>competitive advantage </u>must provide the new business with the opportunity to make money in excess of the competition.
<h3>What is competitve advantage?</h3>
Competitive advantage refers to the factors that allow a company to produce goods or services better or at a lower cost than its competitors. These factors allow the production unit to generate more revenue or higher profit margins than its competitors in the market. Competitive advantage is due to many factors including cost structure, brand image, product quality provided, distribution network, intellectual property and customer service.
Competitive advantage is what makes an entity's products or services more attractive to customers than any other competitor.
Competitive advantage can be divided into comparative advantage and differential advantage.
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Answer:
B, relative prices change constantly to reflect changes in supply and demand.
Explanation:
Prices of goods and services in any market change regularly or constantly. This usually shows the changes in demand and supply of the goods or service.
When the demand for a good is high, prices change and there is an increase. When the demand for a good is low, prices also change and become low as there are not as much people willing to buy the good.
For supply, when the supply of a good or service is high, the price of the good or service is reduced as there is abundant supply of the good. But when the supply of the good is not as much the prices of the good changes as there is an increase.
I hope this helps.
Answer:
A) 0.023
Explanation:
Sample size = 1,000
Number of defectives collected from Machine #1 = 23
So, the sample proportion of defectives for machine #1 = Number of defective output / Sample size = 23/1000 = 0.023
It is the improvement of Superior Process Technology. The hypothesis is that in the cutting edge world, rather than other assembling enterprises, an organization's net revenue frequently increments with each extra client. Expanding return financial matters guarantees that as a result of a putative size preferred standpoint, the early market pioneer will have the capacity to pound late landings by cutting costs.
