According to Research Studies,what Element Was Reported as the Most

question 44

Multiple Choice

According to research studies,what element was reported as the most important factor to new venture success?

• A)the uniqueness of the product or service to fulfill a customer need
• B)the financial support to help the company through the initial years
• C)the lead entrepreneur and quality of the team
• D)the size of the lead entrepreneurs' network

---

Definitions:

Marginal Rate

Often used in context as marginal rate of substitution or marginal rate of transformation, indicating the rate at which one good can be substituted for another or one output can be exchanged for another in production without altering the overall level.

Substitution

The economic principle describing how consumers replace more expensive items with less costly alternatives.

Indifference Curves

Graphs showing different bundles of goods between which a consumer is indifferent, highlighting preferences.

L-shaped

Can refer to a type of economic recession and recovery that resembles the shape of the letter "L", indicating a steep decline followed by a period of stagnation.