For Leaders, Pushing Beyond the Comfort Zone and Facing the Internal

question 36

Multiple Choice

For leaders, pushing beyond the comfort zone and facing the internal "wall of fear" is an act of:

• A) courage.
• B) vision.
• C) goal setting.
• D) ethics.

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Definitions:

Economies of Scale

Cost advantages that enterprises obtain due to their scale of operation, leading to a decrease in per unit cost with an increase in production.

Least Cost

The process of minimizing expenses involved in producing a good or service while maintaining its quality and efficiency.

Minimum Efficient Scale

The smallest amount of production a company can achieve while still taking full advantage of economies of scale with regards to minimizing its costs.