Cost Savings That Come from Learning by Doing Is Referred

question 90

Multiple Choice

Cost savings that come from learning by doing is referred to as:

• A)economies of scale.
• B)first-mover advantage.
• C)learning effects.
• D)factor endowments.
• E)late-mover advantage

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Definitions:

Slow Processing

The phenomenon of taking longer than average to interpret or react to information.

Implicit Association Test

A psychological test designed to reveal underlying attitudes or biases by measuring the speed of associations between different concepts.

Somatic Marker

A term referring to bodily reactions that are associated with emotions and feelings, which are thought to guide decision-making processes.

Priming Task

A technique in psychology used to train or influence participants' responses towards a subsequent task, by exposing them to specific stimuli beforehand.