Final answer:
The resource-based model of a firm argues that firms can gain a competitive advantage by acquiring and utilizing valuable resources.
Step-by-step explanation:
The resource-based model of a firm argues that firms can gain a competitive advantage by acquiring and utilizing valuable resources. According to this model, resources must have been produced and can be used to produce other goods and services. This model suggests that firms should focus on identifying and leveraging unique resources that are difficult for competitors to imitate or substitute.