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 small 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 good or service that can be easily duplicated by competitors

Question

Quizplus · Accepted Answer

To gain a competitive advantage over competitors, a company must be able to produce goods or services efficiently and at a reasonable profit. This means that the company must have a streamlined and effective production process that enables them to produce high-quality goods or services while keeping costs low. They must also be able to sell their products at a price that allows them to make a good profit while remaining competitive in the marketplace.

What Is Needed to Gain a Competitive Advantage Over Competitors