The Longer the Time Between Measuring an Attitude and Observing

question 48

True/False

The longer the time between measuring an attitude and observing behavior, the weaker the relationship of an attitude with observed behavior.

Comprehend the growth management strategies for small businesses, including delegation of authority.

Explain the importance of innovation and customer focus in the success of small businesses.

Realize the potential immediate threats to small and mid-sized businesses and strategies to mitigate them.

Know the role of personal assets and savings as a source of funds for starting a business.

---

Definitions:

Diminishing Returns

A principle stating that as additional amounts of a variable input are added to a fixed input, beyond some point the marginal product of the variable input begins to decrease.

Unit of Labor

A measure of labor input, often represented by one worker or one hour of work, used to calculate productivity or costs.

Marginal Cost

The price of fabricating another unit of a good or service.

Total Cost

The sum of all costs incurred in the production of goods or services, including fixed and variable costs.