An Entrepreneur Started a New Business

question 25

Multiple Choice

An entrepreneur started a new business. The first several years were very challenging. However,the entrepreneur believed that the challenges could be met and the business would be successful. This entrepreneur shows

• A) economies of scale.
• B) tenacity.
• C) new resource skills.
• D) character licensing.
• E) the idea of lowering variable costs.

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Definitions:

Bystander Effect

A social psychological phenomenon where individuals are less likely to offer help to a victim when other people are present.

Social-Responsibility Norm

A societal rule that people should help those who need assistance, even if doing so is costly.

Social Exchange Theory

A theory suggesting that social behavior is the result of an exchange process aiming to maximize benefits and minimize costs.

Equity

The concept of fairness or justice in situations, ensuring everyone has equal access to resources and opportunities.