Economics GCSE
Competitive advantage
What Competitive advantage means in Economics GCSE, as defined for AQA.
Definition of Competitive advantage
Check what you remember
Read the wording for your board, then hide it and explain Competitive advantage in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
The advantage larger firms often have over smaller ones, allowing them to increase profit margins or lower selling prices to attract more customers and gain a larger market share.
Topics that use Competitive advantage
- Economies of scale (AQA GCSE)
Related terms
- Communication problems
- Coordination and control issues
- Economies of scale
- External economies of scale
- Fixed costs
- Internal economies of scale
- Purchasing economies
- Average costs
Using Competitive advantage in the exam
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