Identify Three Major Criticism of the Trait Approach

question 22

Essay

Identify three major criticism of the trait approach.

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Definitions:

Variable Cost

Costs that change in proportion to the level of production or sales activities in a company, such as raw materials and labor expenses.

Fixed Cost

Costs that remain constant in total regardless of changes in the level of production or sales over a certain period of time, such as rent, salaries, and insurance.

Product Cost

The total amount of expenses incurred to produce a product, including direct labor, materials, and overhead.

Period Cost

Expenses that are not directly tied to the production process and are expensed in the period they are incurred, such as selling, general, and administrative expenses.