What is needed to gain a competitive advantage over competitors?
A) The ability to produce goods and services and sell those at a fixed profit
B) The ability to produce goods and services and sell those at a high profit
C) The ability to produce goods or services efficiently and at a reasonable profit
D) The ability to leverage the internet to sell in a global marketplace
E) The ability to have a unique good or service that cannot be easily duplicated by competitors

Question

Quizplus · Accepted Answer

C)Competition occurs when two or more businesses vie for the same resources or customers. To gain an advantage over competitors, a business must produce its goods or services efficiently and be able to sell at a reasonable profit.

What Is Needed to Gain a Competitive Advantage Over Competitors