When Developing a Company's Mission Statement, an Entrepreneur Should Remember

question 39

Multiple Choice

When developing a company's mission statement, an entrepreneur should remember to:

• A) write the statement alone without anyone else's interference.
• B) omit statements about her values because they may turn some stakeholders off.
• C) keep it short and simple.
• D) All of the above

---

Definitions:

Shutdown Point

The lowest point on the average variable cost curve. When price falls below the minimum point on AVC, total revenue is insufficient to cover variable costs and the firm will shut down and bear losses equal to fixed costs.

Farmer

An individual engaged in agriculture, raising living organisms for food or raw materials, typically leading the operation of farms or animal husbandry.

Price

The amount of money required to purchase a good or service.

Average Price

The sum of all the prices of all the units sold divided by the number of units.