GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Competitive advantages that can also be gained by business that seek cooperation within or related industries is termed as ____
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Alliance
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Cost-leadership
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Defensive strategy
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Threats
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Explanation:
Detailed explanation-1: -Competitive advantages can also be gained by businesses that seek strategic alliances with other businesses in related industries or within the same industry.
Detailed explanation-2: -The three main types of competitive advantage are differentiation, cost advantages, and focus advantages.
Detailed explanation-3: -Competitive advantage refers to a company’s ability to outperform its competitors. Comparative advantage is how a business lowers costs to gain leverage against its competitors.
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