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Competitive advantage facts for kids

Kids Encyclopedia Facts

In economics a competitive advantage is something that allows someone or a company to beat their rivals. This includes:

  1. Low cost: I have better resources. I can make things at a lower cost. I sell things at a lower price than others.
  2. Differentiation: The product I create is different, better, or both.
  3. Focus: The product I create is targeted to a specific person.

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Competitive advantage Facts for Kids. Kiddle Encyclopedia.