Question

Uniway Technologies Inc. has based its manufacturing units in the country of Lanthania. The country's stable economic and political environment has helped the firm gain competitive advantage by lowering its production costs and improving product quality. Other things being equal, the benefits realized from such a strategy can be typically referred to as _____.

Answer 1

location economies

Step-by-step explanation:

Location economics refers to the economics in which the firm is able to find the location for their goods and services. It reflects the utilization setting for company goods. Also the production of goods using the optimum setting brings the extra advantage over the rivals.

Therefore according to the given situation, if it gained competitive advantage via improving the quality of products at less production cost keeping other things constant, the benefit gained from this strategy refers to the location economics