Reasons for New Business Failure Include All of the Following

question 77

Multiple Choice

Reasons for new business failure include all of the following EXCEPT:

• A) lack of marketing control.
• B) lack of experience.
• C) lack of strategy and strategic leadership.
• D) lack of expertise.
• E) lack of commitment.

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Definitions:

Short Run

Describes a period in which some factors of production or inputs are fixed, limiting the ability of a business to fully adjust to market changes.

Long Run

A period in which all factors of production and costs are variable, and firms can adjust all inputs.

Inputs Fixed

Refers to factors of production (like capital and land) that remain constant in quantity, regardless of the level of output.

Inputs Variable

Factors of production such as labor, land, and capital that are used to create goods and services.