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A critical review of competitive advantage is necessary to achieve the benefits afforded by the
competitive advantage. There are several models of competitive advantage, and it is useful to
review the main characteristics of competitive advantage. This phenomenon is a characteristic of
competitive markets, where the barriers to entry are lowered or many firms in the industry
provide the nation an edge for competing in international markets. In some cases, competitive
advantage could mean absolute advantage. This could be natural advantage or policy-induced
advantage. As an example, taxes and labor-market flexibility provide advantages. ...