When a company’s resources are valuable, rare, imperfectly imitable, and nonsubstitutable, it has a . Necessary to sustain a competitive advantage, resources are not controlled or possessed by many competing firms.

Rare resources

Explanation:

When a company’s resources are valuable, rare, imperfectly imitable, and nonsubstitutable, it has a . Necessary to sustain a competitive advantage, rare resources are not controlled or possessed by many competing firms.  

There are four conditions in economics that must be met if an organization aims at having competitive advantage over other firms, these conditions is that the resources utilized by the firm should be valuable, that is, the resource should aid the firm in improving efficiency and effectiveness, it should be rare, imperfectly imitable, that is, it should be impossible to imitate or duplicate and lastly it should be nonsubstitutable (impossible to replace). This characteristics of a resource will give a firm a strong competitive advantage in the market.

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abolish

do away with

unanimous

in complete agreement

secede

separate; break free

inauguration

starting a new position with a formal ceremony.

cooperationist

people who wanted the north to cooperate with the south

surrender

to give up

volunteer

perform a service for free

draft

involuntary service in military

retreat

withdraw; move away from enemy

advisor

expert who gives advice

explanation: