What Does the Not-Invented-Here Bias Refer To

question 263

Multiple Choice

What does the not-invented-here bias refer to?

• A)The tendency to ignore or harbor negative attitudes toward ideas from other members of one's own organization or project team
• B)The tendency to admire or harbor positive attitudes toward ideas from outside one's own organization or project team
• C)The tendency to ignore or harbor negative attitudes toward ideas from outside one's own organization or project team
• D)The tendency to admire or harbor positive attitudes toward ideas from other members of one's own organization or project team
• E)The tendency to ignore or harbor negative attitudes toward ideas from inside and outside one's own organization or project team

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Definitions:

External Costs

Costs that affect parties who are not directly involved in the production or consumption of a good or service, often leading to market failures.

Underproduce

The act of producing less than is demanded or expected, often leading to shortages and increased prices.

Overprice

The act of charging a price for a product or service that is higher than what is considered fair or reasonable.

Industry Curve

A graphical representation showing how the average costs of production change as the total output of an industry changes.