A nation's competitiveness depends on the capacity of its industries to <u>innovate and upgrade</u> and thereby maintain its competitive advantage.
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What is competitive advantage?</h3>
- A company's ability to produce goods or services faster, more efficiently, or for less money than its competitors is known as a ccompetitive advantage.
- These elements enable the producing unit to outperform its competitors in terms of sales or margins. Cost structure, branding, the standard of the product offers, the distribution system, intellectual property, and customer service are just a few examples of the variables that are thought to contribute to competitive advantages.
- Comparative and differentiated advantages are two types of competitive advantages.
- A corporation has a comparative advantage if it can create a product more effectively than a competitor, which increases profit margins.
- When a company's products are regarded as both distinctive and of greater quality than those of a competitor, this is known as having a differential advantage.
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D- New Greek city-states we’re formed.
A disaster is a sudden, calamitous event that seriously disrupts the functioning of a community or society and causes human, material, and economic or environmental losses that exceed the community’s or society’s to cope using its own resources.
The correct answer is social loafing.
Social loafing refers to the phenomenon where a person puts in less effort to achieve a goal, when he/she is part of a group, compared to when he/she is working alone. Social loafing usually occurs due to diffusion of responsibility, where a person feels less responsible and motivated to help out, when he/she is in a group with other people. In this instance, Carlene demonstrates that she dislikes social loafing because she believes that when working in a group, there is always going to be someone who is content to sit back and let others do the work.
