6.2 Discussion: Compare & Contrast Strategies1. Use the following article What Is Competitive Advantage(https://www.thebalance.com/what-is-competitive-advantage-3-strategies-that-work-3305828)? as a basis for examining the companys(Dollar Tree) competitive advantage.2. Compile a post that demonstrates how your firm of choice could use economics to either create a competitive advantage in the marketplace or perhaps reinforce its already-achieved competitive advantage. Make sure you address the full range of economic issues, including scarcity, markets/competition, pricing power (price elasticity), costs, market structure, macroeconomic climate, and global market positioning. Note, not all of these companies have a global strategy in place. Should they? Explain your answer.3. Your initial response should be 400 to 600 words in length and include two academic sources that are properly cited. It is due by the end of the fourth day of the workshop.6.3 Assignment: Turnitin-Global Economic CrisisView the video PIMCO(https://www.pimco.com/en-us/resources/video-library/media/five-characteristics-of-a-post-covid-world/) in which they mention five key trends that will be affecting the post-COVID global economy.Building on those five key trends and using your choice of company from Discussion 6.2, assess how well your company of choice is positioned to succeed (or fail!) given the context of these trends. You will complete a five-page paper expanding on the points you made in Discussion 6.2. Again, make sure you address the full range of economic issues, including scarcity, markets/competition, pricing power (price elasticity), costs, market structure, macroeconomic climate, and global market positioning, this time with an expanded view. You can achieve this by asking the questions, Where are they in terms of scarcity, markets/competition, pricing power, costs, market structure, and the U.S. and global economies?” You should use at least three recent sources from OCLS or other recent, credible information. Make sure it is consistent with APA standardsA minimum of five sources is required, at least three of which are scholarly.Use proper spelling, grammar, and APA formatting for your analysis paper.6.4 Discussion: Applications of Economic TheoryNavigate to the threaded discussion below and respond to the following:Consider all of the major themes and concepts presented throughout the course.Share at least one real-world scenario from your own experience, or one you find in a current business publication, that illustrates any one of the major themes or concepts from the course.Discuss how the scenario represents the relationship between the macro environment and individual firms/industries through microeconomic factors of demand, production, cost, and profitability.Your initial response should be 400 to 600 words in length and include two academic sources that are properly cited. It is due by the end of the fourth day of the workshop.