The north's economy was mainly textiles in the 1800's and a lot of factor work with all the new inventions being made during this time being and industrial revolution.<span />
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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Answer:
Status
Explanation:
Sociologist defines status as a position of an individual occupies in a particular context. Generally speaking, there are two types of status that are achieved status and ascribed status. While ascribed status is the status which is not earned but people born with it like sex, race, etc, on the other hand, achieved status refers to the status acquired by an individual through personal abilities and skills.
Answer:
A stimulus check is a check sent to a taxpayer by the U.S. government. Stimulus checks are intended to stimulate the economy by providing consumers with some spending money. When taxpayers spend this money, it boosts consumption and drives revenues at retailers and manufacturers and thus spurs the economy.
Explanation:
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