Many Dimensions of Climate Have Been Shown to Influence Innovation

question 11

Multiple Choice

Many dimensions of climate have been shown to influence innovation and entrepreneurship.Which the following is not associated with innovation and entrepreneurship?

• A)Time and space for generating new ideas.
• B)Challenge and involvement to stimulate innovation.
• C)Complete trust and lack of conflict.
• D)Support for risk-taking and mistakes.

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Definitions:

Average Variable Cost

The total variable costs (costs that change with production levels) divided by the quantity of output produced.

Output

The total quantity of goods or services produced within a specific period by a firm or industry.

Diminishing Marginal Returns

A principle stating that as additional units of a variable input are added to a fixed input, the additional output from each new unit of input will eventually decrease.

Variable Factors

Elements in production that can change in the short term, such as labor and raw materials, in contrast to fixed factors like capital.