Discovery of the Powell Field, also near Corsicana, followed in 1900. Jan. 10, 1901, is the most famous date in Texas petroleum history. This is the date that the great gusher erupted in the oil well being drilled at Spindletop, near Beaumont, by a mining engineer, Capt. A. F.
C.
The judicial branch interprets laws, while the executive branch enforces the laws. C matches with this fact.
Effective democracies tend to allow a broader range of interests to be considered on a regular basis. This leads to more nuanced and moderate policies and reduces the risk that ineffective leaders can stay in power for a long time.
These characteristics encourage more robust and stable economic growth.
In authoritarian systems, economic growth is more likely to be narrowly based on a small section of the population and corruption is likely to be higher.
Few countries with authoritarian systems of government have achieved high levels of growth in the long term.
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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.
To learn more about competitive advantage with the given link
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