Michael Porter has identified four key elements in a nation's competitive advantage. They are factor conditions, related and supporting industries; and company strategy, structure, and rivalry; and:
A)industrial diversity.
B)governmental regulation.
C)consumer behaviour.
D)demand conditions.

Question

Quizplus · Accepted Answer

The fourth key element in a nation's competitive advantage according to Michael Porter is demand conditions. This refers to the nature and size of buyers' needs in the domestic market. A strong domestic demand can help firms improve their competitive advantage by allowing them to achieve economies of scale, introduce new products faster, and improve product quality based on customer feedback.

Michael Porter Has Identified Four Key Elements in a Nation's