Which of the Following Is a Major Contribution of Hugo

question 23

Multiple Choice

Which of the following is a major contribution of Hugo Munsterberg?

• A)He was a social reformer.
• B)He created the field of industrial psychology.
• C)He was interested in individual and group behaviour.
• D)He viewed organisations as social systems, requiring human cooperation.
• E)He created the four functions of management.

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Definitions:

Industry Exit

The process by which a company ceases operations in a specific industry, typically due to financial losses, market competition, or changing industry conditions.

Long Run Adjustments

Changes or adaptations made by firms in response to long-term changes in market conditions, where all inputs and production capacities can be varied.

Constant-cost Industry

An industry where the costs of production, including inputs and technology, do not change as the total output of the industry changes.

Long-run Equilibrium

A state in which all aspects of an economy or market are balanced, and all adjustment processes have been completed over time.