Which of the Following Is True of Creative Business Owners

question 40

Multiple Choice

Which of the following is true of creative business owners?

• A) They implement an imitative strategy to their business.
• B) They do not ask many questions.
• C) They question and challenge the way things appear.
• D) They give more importance to the problems they face rather than identifying opportunities.

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Definitions:

Cost Curve

A graphical representation showing how the cost to produce a given quantity of goods varies.

Cost Curve

A graphical representation showing the cost of producing different levels of output.

Economies of Scale

The reduction in the cost per unit that companies experience as a result of their large scale of operations, usually seeing these expenses decrease as the scale grows.

Diseconomies of Scale

An economic concept where, beyond a certain point, an increase in the scale of production leads to a rise in average costs per unit due to inefficiencies.