Competitive advantage refers to the ________.
A) belief that national prosperity is the result of a positive balance of trade, achieved by maximizing exports and minimizing imports
B) superior features of a country that provide unique benefits in global competition, typically derived from either natural endowments or deliberate national policies
C) distinctive assets or competencies of a firm that are difficult for competitors to imitate and are typically derived from specific knowledge, capabilities, skills, or superior strategies
D) relative absence of restrictions to the flow of goods and services between nations
Question 2
Which of the following is a characteristic of successful international retailers?
A) conservative managers and salespeople and a centralized organizational system
B) an entrepreneurial approach to foreign markets and an understanding of the target market
C) significant financial borrowings and high foreign and domestic operational costs
D) extreme competition and support from home-country governments exclusively
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