Identify $3$ factors determine the relative value of a resource to firms, and therefore competitive advantage. Identify these $3$ factors and provide a specific, real$-$world example of each in the auto racing industry.

Identify the $3$ basic types of isolating mechanisms and provide a specific, real$-$world example of each in the auto racing industry.

In class I argued that a resource or capability needs to have $4$ characteristics in order to provide a firm with sustainable competitive advantage. Identify each of these characteristics and provide a specific, real$-$world example of each, from the auto racing industry.