The Experience Curve Reveals That

question 109

Multiple Choice

The experience curve reveals that .

• A)repetition in production enhances efficiency
• B)repetition in production lowers costs
• C)the average cost drops with accumulated production experience
• D)A,B,and C
• E)none of the above

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Definitions:

Opportunity-driven

Entrepreneurship or actions motivated by the identification and exploitation of business opportunities.

Troika

Originally a Russian term for a sled or carriage drawn by three horses, now often used metaphorically to refer to a group of three powerful or notable people or entities.

Entrepreneurial Attribute

Qualities or characteristics that are commonly found in successful entrepreneurs, such as creativity, resilience, and risk-taking.

Calculated Risk Taker

An individual or entity that makes decisions based on a careful assessment of risks and rewards.