Unit 1.2 - Market and Competitive Advantage

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Last updated 5:40 PM on 10/14/26
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4 Terms

1
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Market

A place or system where buyers and sellers exchange goods and services

2
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Competitive Advantage

A unique attribute that helps a business stand out from competitors

3
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Differentiated Products

Goods or services that are different from competitors because of their features, quality, or branding

4
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Barriers to Entry

Any obstacles or costs that make it difficult for new business to enter a specific market