Final answer:
A firm's competitive advantage according to the resource-based view is rooted in unique resources and capabilities like worker education, knowledge base, specialization, economies of scale, and innovation.
Step-by-step explanation:
According to the resource-based view, a firm's competitive advantage often stems from its unique resources and capabilities that provide value to its customers and are not easily replicated by competitors. These can include the education of workers, the knowledge base of its engineers and scientists, specialized learning in a part of the value chain, economies of scale, and innovation. A business's focus on its core competency, such as a singular product or a small selection of products, can lead to better success than attempting to offer a broad range of items. This concept suggests that companies gain competitive advantage and potential for higher profits by finding ways to produce products more economically or by innovating to offer products with desirable features that appeal to consumers.