What is a competitive advantage with regard to economics?
Competitive advantages are conditions that allow an entity to produce a good or service at a lower price or in a more desirable fashion for customers.
What are the differences between their, there, and they're?
Their: Implies Possession There: Indicates direction or description They're: Contraction for "They are"
A car is driving 2 laps around a circular, 1 mile track. If the first lap was completed at 30 MPH, at what speed would the car need to drive the second lap to average 60 MPH.
It is impossible. In order to average 60 MPH, the car would need to complete both laps in 2 minutes. Since the car completed the first lap in 2 minutes, it does not matter how fast the car completes the second lap since the 2 minute requirement has already lapsed.