A Key Element of Referent Power Is ________

question 3

Multiple Choice

A key element of referent power is ________.

• A)knowledge
• B)ability
• C)stamina
• D)trust

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Definitions:

Excess Capacity

A situation where a firm operates below its maximum production capacity, indicating it can increase output without incurring higher fixed costs.

Variable Costs

Expenses that change in proportion to the level of goods or services produced, such as materials and labor costs.

Repeat Customers

Customers who return to a business to make subsequent purchases, showing loyalty and continued interest in a company's products or services.

Credit Scoring

A statistical analysis performed by lenders to assess the credit worthiness of credit applicants.