Answer:
The answer is "Option B"
Explanation:
Marshall McLuhan invented a word to describe the planet "shrunk under", that is also known as modern communications technologies. He associates with an expanded central nervous system with the vast network of Communication Systems, that eventually connected all of them worldwide. In his, a global village defines the world's integrated trend as a result of the proliferation of information technologies around the planet, that's why it is wrong.
Which project type creates a competitive advantage that enables the organization to earn a greater than normal return on investment than its competitors?
Answer:
a breakthrough project
Explanation:
Having competitive advantage implies being in a condition or circumstance that puts an organisation in a favorable business position.
Therefore, a Breakthrough Project would create a competitive advantage that enables the organization to earn a greater than normal return on investment than its competitors, because it is like a disruptive innovation.
Amelia has made a conscious effort to become an active listener. She shuts down her computer, turns off her cell phone, and asks her assistant to hold all incoming calls when she conducts interviews. What technique is she using to improve listening?
Answer:
Controlling her surroundings.
Explanation:
There are various techniques that can help an individual improve listening. One of such techniques involves controlling your surroundings.
To do this, you have to first identify sources of potential distractions to you, in your immediate surroundings and remove them. This improves the ability to listen actively.
Final answer:
Amelia is using a distraction elimination technique to improve her active listening by creating an environment that allows her to focus solely on the interviewee, demonstrating full engagement in the conversation.
Explanation:
Amelia is employing a technique aimed at eliminating distractions to improve her active listening skills during interviews. This method involves creating an environment conducive to focusing solely on the interviewee, thereby enhancing the quality of the interaction and the information gathered. By shutting down her computer, turning off her cell phone, and asking her assistant to hold all calls, Amelia ensures that her attention is not divided and that she can fully engage with the subject at hand.
Active listening not only involves the absence of distractions but also the presence of engagement cues such as nodding, maintaining eye contact, and providing verbal affirmations. This demonstrates to the speaker that the listener is fully present and invested in understanding their perspective. It's a sign of respect and can greatly improve the communication process.
Amelia's approach reflects a consciousness style of listening, where the listener makes a deliberate effort to immerse themselves in the speaker's message, putting aside their own thoughts and judgments to better understand the speaker's situation and needs.
The liaison role of a manager encompasses relationships with subordinates, including communication and influence, whereas the leader role of a manager pertains to the development of information sources both inside and outside an organization.
Correct/Complete Question:
The liaison role of a manager encompasses relationships with subordinates, including communication and influence, whereas the leader role of a manager pertains to the development of information sources both inside and outside an organization. True or False.
Answer:
False
Explanation:
The role of a liaison manager is to maintain communication/information links inside and outside an organization while a manager in the leader role being one of the characteristics of a manager, involve the manager interacting directly and motivating subordinates as well as training subordinates.
Cheers.
To address the widespread and growing concern of contaminated food causing serious injury and death to individuals throughout the U.S., Congress passed a law stating that anyone intentionally distributing contaminated food is subject to criminal prosecution, civil fines, or both. Congress included a provision that any company with a corporate food-safety compliance policy approved by the FDA would avoid criminal prosecution, but not civil fines. To be approved, the company policy must require the company to report to the U.S. Food and Drug Administration any test results that indicate salmonella is present and consult with that agency before shipping any possibly contaminated food.
Answer:
By implementing the food safety compliance policy, the food company would only make sure that the food they have given is safely consumable, but by putting consumer safety first, the companies would go beyond the attempts to avoid fine and take special measures to ensure true safety of the consumers.
Explanation:
Though the Food and Drug Administration of the United States bears the responsibility of food safety and is accountable towards both, the public and the government, it would not be possible without the cooperation of the food companies to ensure utter food safety for the public. With stringent supervision and the companies sticking to the norms and regulations put by the supervising agencies, it would be possible to eradicate the problems caused by food contamination.In commodity markets it is typically true that: (note: only one statement is correct) Group of answer choices there are only a few producers. any producer can affect the market price depending on the quantity that he or she sells. producers are "price takers". there are many producers, but it is very hard for new producers to enter the market.
Answer:
producers are "price takers".
Explanation:
Commodity markets is an example of A perfectly competitive market. A perfectly competitive market is characterised by many buyers and sellers of homogenous goods and services.
Because products are homogenous, sellers cannot set the price for their goods. Prices are set by forces of demand and supply,therefore, suppliers are price takers.
There are no barriers to entry and exit of firms into the market.
I hope my answer helps you
Charles wants to survey recent customers about the quality of service they received at his small auto service dealership. He has customers' mailing and e-mail addresses. Charles will likely use an online survey primarily because it offers:
A. relatively low response rates.
B. the ability to share video with respondents.
C. the ability to ask sensitive questions with anonymity.
D. fast responses at a lower cost.
E. the opportunity to survey both existing and potential customers.
Answer: fast responses at a lower cost.
Explanation:
Online survey would be a very desirable survey to use because of it's low cost of preparation(saves the cost of printing) and quick response from the target audience. An online survey is a method of gathering information from a wide variety of people on a subject matter over the internet, by administering questionnaire's to them.
Explain the significance of scarcity, economics, need, want, factors of production, land, capital, capital good, labor, entrepreneur, and Gross Domestic Product (GDP)?
Explanation:
Scarcity is the prerequisite for not having sufficient money from government to create all the stuff that people want. Economy is an examination about how people interact with scarcity or seek, through diligent use of relatively scarce commodities, to meet nearly unlimited and profitable needs. Necessity, like food, shelter and clothes, is a fundamental need for life.A choose is what we really want, but we don't have to survive. The development factors are the tools needed to produce what we want. Development considerations include land, money, labor and companies. Land applies to non-people natural resources, like rich lands, ore deposits, forestry and a good crop habitat. Capital applies to the machines, tools, machinery and industrial sectors used to produce goods and services.Labor means the people and that all their energies, abilities and competences. A businessman looking for income is a risk-taker who makes using available resources something fresh. Businesspeople are essential during much of the economic change and inventors. The key gross national product is the dollar amount of every final good, services and structure generated in a given year in a given country. The overall output and financial health of a country is a good measure.Scarcity refers to the gap between limited resources and limitless wants, leading to the study of economics. Factors of production (land, labor, capital) are essential in economic studies, with entrepreneurs being the risk-takers driving economic growth. Gross Domestic Product (GDP) measures a country's economic health.
Explanation:
Scarcity refers to the basic economic problem, the gap between limited resources and theoretically limitless wants. This situation requires people to make decisions about how to allocate resources effectively, hence the study of economics.
Need refers to goods or services required for survival, while want refers to goods or services that people desire but are not necessary for survival.
Factors of production include land (including all natural resources), labor (the workforce), and capital (man-made goods used in production, which are also known as capital goods). An entrepreneur is a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so. They are considered an essential driver of economic growth.
The Gross Domestic Product (GDP) is the total value of all final goods and services produced within a country's border in a year. It's a key measure of a country's economic health.
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Bridge Company’s results for the year ended December 31, 2016, include the following material items:
Sales revenue $5,000,000
Cost of goods sold 3,000,000
Administrative expenses 1,000,000
Gain on sale of equipment 200,000
Loss on discontinued operations 400,000
Understatement of depreciation expense in 2015 caused by mathematical error 250,000
Bridge Company’s income from continuing operations before income taxes for 2016 is:
a. $700,000
b. $950,000
c. $1,000,000
d. $1,200,000
Answer:
(C) $1,000,000
Explanation:
A company's continuing operations are events that make up or are involves in the regular business activity of a company. As such, for a company whose primary business is the sales of, for example, groceries, the sale of an equipment is not a part of the Company's continuing operations.
For Bridge Company, its income from continuing operations before income tax is computed as follows.
Sales revenue, $5,000,000
Less, Cost of goods sold, $3,000,000
Less Administrative expenses, $1,000,000
Therefore, income from continuing operations = $1,000,000.
Gain on sale of equipment, loss on discontinued operations, and an adjustment for previous depreciation expenses are not continuing operations' items.
With current technology, suppose a firm is producing 400 loaves of banana bread daily. Also assume that the least-cost combination of resources in producing those loaves is 5 units of labor, 7 units of land, 2 units of capital, and 1 unit of entrepreneurial ability, selling at prices of $40, $60, $60, and $20, respectively. Assume the firm can sell these 400 loaves at $2 per unit.
Answer:
A) Total revenue = 400 loaves of bread x $2 per loaf of bread = $800
B) Total economic costs = (5 units of labor x $40 per unit of labor) + (7 units of land x $60 per unit of land) + (2 units of capital x $60 per unit of capital) + (1 unit of entrepreneurial ability x $20 per unit) = $200 + $420 + $120 + $20 = $760
C) Economic profit or loss = total revenue - total economic costs = $800 - $760 = $40
Final answer:
The question explores the employment decisions a bakery manager makes based on marginal revenue product and marginal factor cost curves, with factors such as changes in the price of bread and the wage of bakers impacting profit maximization.
Explanation:
This question revolves around the concept of marginal revenue product (MRP) and marginal factor cost (MFC) in the context of a bakery business. The MRP curve shows the additional revenue generated by hiring an extra baker, while the MFC curve represents the cost incurred by hiring an extra baker. If the bakery produces 400 loaves of banana bread daily, selling at $2 per loaf, and the input cost prices are provided for labor, land, capital, and entrepreneurial ability, we can use this information to determine the bakery's resource allocation and labor demand.
Given that additional contextual examples indicate bakers receive a wage of $100 per day and each loaf sells for $1.00 to $1.20, we can analyze how changes in the price of bread affect the MRP and subsequently the number of bakers Ms. \' Alvarez would employ in her bakery. The examples provide scenarios where the firm needs to adjust labor employed based on the MRP of labor, the price of bread, and the labor cost to maximize profits.
A borrower applied for a VA guaranteed first time mortgage for $50,000; however, the property appraised for $46,000. If the buyer still wanted to buy the property which could happen?a. The broker could write up a contract, different from the actual offer price, to take to the lender
b. The VA could allow the borrower to make up the difference in cash
c. The VA could make the borrower get a second mortgage for the difference
d. The veteran could not get a VA loan because it appraised for over $35,000
Answer:
The correct answer is B
Explanation:
In this case, the borrower applied for the VA guarantee for the first time mortgage which amounts to $50,000 but the property that is appraised worth only $46,000. It is $4,000 short ($50,000 - $46,000).
In order to buy the property, the VA should allow the borrower to make up or come up with the difference in the cash that is $4,000. And this will allow or help the borrower in buying the property.
If a profit-maximizing, competitive firm is producing a quantity at which marginal cost is between average variable cost and average total cost, it will___________________.
a. keep producing in the short run but exit the market in the long run.
b. shut down in the short run but return to production in the long run.
c. shut down in the short run and exit the market in the long run.
d. keep producing both in the short run and in the long run.
Answer:
a. keep producing in the short run but exit the market in the long run.
Explanation:
To answer the question, there is a need to look at the effect of the situation on the firm both in the short- run and the long-run
Short Run Effect
The Marginal cost is between average variable cost and average total cost. The business can still continue producing goods because the quantity being produced is still able to cover the average variable cost. This means that the firm is still able meet its variable costs by setting the price of its goods to its marginal cost which is an amount greater than its average variable cost.
Long Run Effect
However, in the long-run the company will begin to have issues even meeting other important costs such as the fixed costs associated with production and as such, the firm will need to exit the market in the long run. For instance the cost of long term loans (principal and interest) may not be covered by the net income of the firm.
If a profit-maximizing, competitive firm is producing at a point where marginal cost is between average variable cost and average total cost, it should keep producing in the short run to cover some fixed costs, but exit the market in the long run if it cannot cover the average total cost.
Explanation:If a profit-maximizing, competitive firm is producing a quantity at which marginal cost is between average variable cost and average total cost, then the appropriate strategy would be to continue production in the short run, but exit the market in the long run. This means the answer is (a) keep producing in the short run but exit the market in the long run.
This concept is based on the rules of profit maximization in economics. In the short term, as long as the price covers the average variable cost, the firm should continue producing because it helps to cover some of the fixed costs, thereby minimizing losses. However, in the long run, if the firm cannot cover the average total cost, it would not be profitable and exit the market.
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________ is the extortion of income or resources of property holders by public officials such as politicians and government bureaucrats.
Answer:
Corruption
Explanation:
Corruption is the extortion of income or resources of property holders by public officials such as politicians and government bureaucrats. It is a form of dishonesty (morally speaking) and also a criminal offense ( legally speaking) committed by an official or organization entrusted with a position of authority (politically speaking), for acquisition of benefit or abuse power for personal aggrandizement.
It can also be called a manifestation of fraudulent behavior and bribery is a major component.
Final answer:
The correct answer to the question is 'Corruptive action'. Corruption refers to the dishonest behavior of public officials for personal gain and undermines trust in governance and property rights, leading to increased costs and market distortion.
Explanation:
Corruption is the extortion of income or resources of property holders by public officials such as politicians and government bureaucrats. The correct answer to this multiple-choice question is 'Corruptive action'. Corruption involves a variety of unethical behaviors, such as bribery and embezzlement.
It also profoundly affects trust in the rule of law and can lead to the illegal exploitation of resources, with officials often protecting or organizing such acts. In many countries, public officials may be influenced by implicit or explicit promises of future private sector jobs, resulting in corrupt practices that favor certain companies.
Corruption is not a victimless crime; it infringes on the fundamental human right to fair treatment and is in egalitarian in its effects. It can also disrupt the fairness in the assessment and collection of taxes, turning what should be equitable and just into a form of legalized theft. Transparency International defines corruption as 'the abuse of entrusted power for private gain', and this definition is pertinent to both the public and private sectors.
Defending property rights is essential, and corruption undermines the ability to monitor and enforce these rights, increasing business costs and distorting markets. Therefore, recognizing and combating corruption is crucial for a fair and just society.
Which of the following plans, built in the Performance Planner, will assist Ben in achieving his marketing goal of selling excess inventory?
Answer:
The question is incomplete, please find the complete question below:
Ben Is Currently Managing A Campaign That Has A Total Investment Of $7,000, Generates 1,400 Conversions, And Has A CPA (Cost-Per-Acquisition) Of $5. Ben Needs To Sell Excess Inventory. To Meet This Goal, He’s Willing To Increase His CPA And Campaign Investment. Which Of The Following Plans, Built In The Performance Planner, Will Assist Ben In Achieving His Marketing Goal Of Selling Excess Inventory?
(A) An investment of $9,600 to generate 1,600 conversions with a CPA of $6
(B) An investment of $9,800 to generate 1,400 conversions and a CPA of $7
(C) An investment of $8,400 to generate 1,400 conversions and a CPA of $6
(D) An investment of $9,100 to generate 1,300 conversions and a CPA of $7
The correct answer is (A) An investment of $9,600 to generate 1,600 conversions with a CPA of $6
Explanation:
In order for Ben to Increase His CPA And Campaign Investment, an investment of $9,600 will generate 1,600 conversions with a CPA of $6
One key role of marketing is ______
1. Supporting the board of directors.
2. Operating at the corporate level.
3. Looking outward by listening to customers.
4. Making strategic business decisions.
5. Managing executives.
Answer:
3. Looking outward by listening to customers
Explanation:
This particular role assist in retaining customers by creating new opportunities to win customer loyalty and business.
Maureen's college raises the cost of room and board per semester. This increase raises Maureen's opportunity cost of attending college ____.
a. only if the amount she would have to pay for room and board if she didn't attend college rose by less than the increase in the amount her college charges. An increase in opportunity cost increases Maureen's incentive to attend college.
b. even if the amount she would have to pay for room and board if she didn't attend college rose by the same amount. An increase in opportunity cost increases Maureen's incentive to attend college.
c. only if the amount she would have to pay for room and board if she didn't attend college rose by less than the increase in the amount her college charges. An increase in opportunity cost reduces Maureea's incentive to attend college.
d even if the amount she would have to pay for room and board if she didn't attend college rose by the same amount An increase in opportunity cost reduces Maureen's incentive to attend college.
Answer:
d even if the amount she would have to pay for room and board if she didn't attend college rose by the same amount An increase in opportunity cost reduces Maureen's incentive to attend college.
Explanation:
Opportunity cost in decision making has to do with an alternative foregone. If you make a choice of an alternative over another, therefore the extrinsic cost which is the benefit you will not have, for choosing that alternative is the opportunity cost.
Applying the above to the given scenario, it does not matter the range of increase in the college cost or room and board cost if she did not attend college; It is a general conclusion and a fact that an increase in the level of opportunity costs, it will reduce Maureen's incentive to want to go to college.
Final answer:
Attending college imposes both an out-of-pocket cost and an opportunity cost of lost earnings.
Explanation:
Attending college is another case where the opportunity cost exceeds the monetary cost. The out-of-pocket costs of attending college include tuition, books, room and board, and other expenses. However, in addition, during the hours that you are attending class and studying, it is impossible to work at a paying job. Thus, college imposes both an out-of-pocket cost and an opportunity cost of lost earnings.
Which of the following is not a determinant in calculating federal income taxes withheld from an individual's pay? a.number of exemptions b.type of earnings c.gross pay d.filing status
Answer:
B. Type of Earnings
Explanation:
Federal Income Taxes are taxes levied by the Internal Revenue Service (IRS) of the United States and it usually calculated and taken or withheld from the annual income of persons, corporations among other legal organisations.
The components that get taxed from one's income include the earnings from employment as well as the capital gains and the number of exemptions, gross pay of the individual and the filing status are very important in calculating the tax.
However, type of earning is a determinant that is only relevant for self-employment and since the individual is an employee, then it will not be relevant for making decisions on deductions from the individual's pay.
A ________ is a person, household, or company that over time yields a revenue stream that exceeds by an acceptable amount the company's cost stream of attracting, selling, and servicing that customer
Answer:
profitable customer
Explanation:
A profitable customer of a business enterprise is any economic agent which include individuals, firms and government for which the revenue generated from servicing or supplying them goods and services exceeds the entire cost incurred in providing such service or goods.
A successful business is one that is able to maintain a data base and record of all the customers and identify the profitable ones so as to concentrate on them to achieve maximum profit.
One of the most important contributions to total quality management has been the introduction of statistical tools to analyze the causes of product defects, in an approach called:
A. Mechanistic
B. Six Sigma Quality
C. Organic
D. Total quality integration
E. ISO 9000
Answer: B. Six Sigma Quality
Explanation:
Six sigma is a statistical quality management methodology which businesses adopts to improve product & processes, eliminate defects in their processes.
Six sigma quality is data driven, customer focused, and results driven.
Levels of Six sigma includes.
•Six sigma white belt.
•Six sigma yellow belt
•Six sigma green belt.
•Six sigma black black.
Six sigma quality uses the DMAIC process to improve processes.
DMAIC:
•Define the problem.
•Measure the outcome.
•Analyze.
•Improve the process.
•Control the process.
Six Sigma Quality serves as one of the most important contributions to total quality management .
What is Six Sigma Quality?Six Sigma quality" serves as the term that explains how to indicate if a process is well controlled.
It can be referred to as the introduction of statistical tools to analyze the causes of product defects.
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Manuel, a supervisor, is known by his managers to be sharp in his decisions and has a good track record of meeting his goals. Manuel is a(n) ____ manager.
Answer: Effective Managers.
Explanation:
An effective manager is a manager that delivers successfully on tasks that he is in charge of and is very good in decision making. Manuel is well known for his ability to meet his objectives set and accurate decision making.
Which of these scopes could be used for dimensions and metrics? Event-level, session-level, or transaction-level scope Location-level, duration-level, or user-level scope Hit-level, session-level, or user-level scope Event-level, duration-level, or transaction-level scope.
Answer: Hit-level, session-level, or user-level scope
Explanation: Dimensions and Custom metrics are default dimensions and metrics in any Analytics account. You can use them to collect and analyze data that Analytics doesn't automatically track.
dimensions and metrics allow you to combine Analytics data with non-Analytics data, e.g. CRM data.
The scopes determines which hits will be associated with a particular custom-dimension value and they include Hit-level, session-level, or user-level scope
Revved Rider Inc., a motorcycle company, is the market leader due to its superior engine technology and service orientation. These unique qualities have helped the company generate revenues that are consistently higher than other firms in the same industry. Which of the following can be concluded about Revved Rider Inc. from this scenario?
Answer:
It has a competitive advantage over the other firms.
Explanation:
A competitive advantage refers to a firm's relative advantage in:
providing the same good as its competitors at lower prices, or providing a better good than its competitors at the same price.Competitive advantages result from a firm developing core competencies that provide them an edge over their competitors. But competitive advantages do not last forever, and can change very rapidly.
In this case, Revved Rider's core competencies are a great engine and high quality customer service, but another manufacturer could develop a better engine.
According to the PPC, as we produce more military goods and our resources remain constant, what will happen to the production of consumer goods?
Answer:
Production of consumer goods will be reduced
Explanation:
A Production possibility curve depicts all the possibilities of production of two goods in an economy wherein to produce an extra unit of one good, some part of production of second good needs to be sacrificed.
If an economy produces only two kinds of goods such as military goods and consumer goods, extra production of any of the two would require a corresponding sacrifice of the other. This points towards opportunity cost.
A typical production possibility curve is concave to the origin depicting opportunity cost.
If an economy decides to produce more of military goods with available resources remaining constant, it can only be achieved by sacrificing on the production of consumer goods.
Thus, production of consumer goods will reduce if more military goods are produced.
Asking customers at the shopping mall about their voting intentions in the upcoming political election is an example of secondary data.true/false
Answer:
False
Explanation:
There are two types of data which are as follows:
1. Primary data
2. Secondary data
The primary data is the data that is collected for the specific purpose or we can say through first-hand sources or data. Like - surveys, interviews, etc
And, the secondary data is the data that is based on past data. The example includes the website, books, journals, etc
In the given situation, the data is primary data, not the secondary data
Suppose the demand curve for a product is horizontal and the supply curve is upward sloping. If a unit tax is imposed in the market for this product,
A. sellers bear the entire burden of the tax.
B. the tax burden will be shared among the government, buyers, and sellers.
C. buyers bear the entire burden of the tax.
D. the tax burden will be shared by buyers and sellers.
Answer:
A. sellers bear the entire burden of the tax.
Explanation:
The demand is perfectly elastic which means that any tax will be only borne by the sellers i.e The greater proportion of taxes paid by the inelastic side of the market. It can also thought as only smaller portion of tax is paid by the elastic side of the market. If the demand is more elastic than supply, sellers are paying a greater proportion of tax. If demand is completely elastic, entire taxes paid by the seller
If Antonio's boss is interested in a graphical presentation of the relationship between the price and quantity of televisions demanded, you would advise your coworker to construct:_________using the data provided.
a) a demand curve
b) a demand schedule
c) the law of demand
Answer and Explanation:
a) a demand curve
Henry fords philosophy was to perfect the model-t so that its cost could be reduced further for increased consumer affordability. this most likely reflects the ________.
Answer:
production concept
The monetary inflation needed to relieve the social and economic hardships of the late nineteenth century eventually came as a result of?
Answer:
Came as a result of:an increase in the international gold supply .
Another reason fueling the boom in fast-growing technology services is ___________________, which, when done right, can virally spread awareness of a firm with nary a dime of conventional ad spending a. legacy systemsa.App storesb.Big data and business analyticsc.Esoko and M-Pesad.Sproxile.Legacy systems
Answer:
A) App stores
Explanation:
App stores have a positive impact on the whole American economy and can help companies by:
reducing transaction costslowering entry barriers increasing consumer trust and securityFor example, during 2018, the app economy in the US represented $568.47 billion and it included over 5,744,481 people working in 317,673 different companies.
App stores allow companies, specially smaller companies and entrepreneurs, to have a low-cost distribution channel to massive markets all around the world.
The impact of the app economy will only increase as the internet of things (IoT) increases.
Roger, Ellen, Drew and Cindy are equal partners in a local pub. The pub reports the following items for the current year: Business revenue$1,770,000Business expenses 1,000,000Investment expenses 160,000Each partner receives a Schedule K-1 with one-fourth of the preceding items reported to him/her. How must each individual report these results on his/her Form 1040?
A. $770,000 on Schedule E; $160,000 on Schedule A.
B. $385,000 on Schedule E; $40,000 on Schedule A.
C. $257,667 on Schedule E; $40,000 on Schedule A.
D. $192,500 on Schedule E; $40,000 on Schedule A.
Answer: D-$192,500 on Schedule E; $40,000 on Schedule A.
Explanation: The pub reports the following items for the current year:
Business revenue : $1,770,000
less:
Business expenses $1,000,000
Profit for the year $770,000
divided by 4= $770,000/4 = $192,500 will be recorded on schedule E by each partner.
Investment expenses will be reported under schedule A as $160,000/4 = $40,000 by each of them
What do you have as an entrepreneur when buyers choose your products or services over your competitors?
As an entrepreneur, you have a ___ when buyers choose your products or services over your competitors.
Answer:
As an entrepreneur, you have a competitive advantage when buyers choose your products or services over your competitors.
Explanation:
Competitive advantage can be understood as an advantage that any organization or any firm might have over its competitors due to various possible reasons. When customers prefer the product of any particular company over other companies in the same genre, then the former company is an aid to possess a competitive advantage over its competitors. The reason for this preference could below the pricing of the product, greater quality or sometimes even greater brand value of the product.
Answer:
The right answer is competitive advantage
Explanation: