A Tournament Removes Risks from Outside Factors but Adds Another

question 184

Multiple Choice

A tournament removes risks from outside factors but adds another type of risk called:

• A) internal risk.
• B) ability risk.
• C) personal risk.
• D) competition risk.

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Definitions:

Demand Schedule

A table that shows the quantity of a good or service that consumers are willing and able to purchase at various prices.

Output Per Hour

A measure of productivity calculated by dividing the total output of goods and services by the total hours worked.

Marginal Productivity

The additional output that is produced by adding one more unit of a particular input while holding all other inputs constant.

Complements In Production

Goods that are produced together or their production levels are directly linked; an increase in the production of one leads to an increase in the production of the other.