Which term describes an advantage that allows an entity to remain competitive?

The term that describes an advantage allowing an entity to remain competitive is "benefit." In a business context, a benefit typically refers to a favorable factor or attribute that contributes positively to the organization's position in the market or its ability to meet customer needs effectively. By having certain advantages— whether they are unique resources, strong brand recognition, innovative products, or superior customer service— an organization can set itself apart from competitors and enhance its market share.

On the other hand, risk refers to potential negative outcomes that could threaten an entity's competitive edge, while liability relates to obligations or debts that can hinder financial flexibility. Cost generally pertains to expenses incurred in the production of goods or services, which can impact profitability but does not inherently convey the idea of an advantageous position. Thus, "benefit" specifically encapsulates the essence of competitive advantage in business environments.