Attitudinal and Behavioural Uniformities That Define Group Membership and Differentiate

question 45

Multiple Choice

Attitudinal and behavioural uniformities that define group membership and differentiate between groups are called:

• A) cognitive discontinuities.
• B) norms.
• C) initiation rites.
• D) ethnographies.

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Definitions:

Fixed Costs

Expenses that do not change with the amount of goods or services produced by a business.

Sunk Costs

Sunk costs refer to expenses that have already been incurred and cannot be recovered, and therefore should not affect future business decisions.

Opportunity Costs

The missed opportunity to benefit from different options when a single choice is made.

Economies of Scale

Cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.