Competitive advantage refers to the . relative absence of restrictions to the flow of goods and services between nations belief that national prosperity is the result of a positive balance of trade, achieved by maximizing exports and minimizing imports distinctive assets or competencies of a firm that are difficult for competitors to imitate and are typically derived from specific knowledge, capabilities, skills, or superior strategies superior features of a country that provide unique benefits in global competition, typically derived from either natural endowments or deliberate national policies