Key Skills for a Successful Manager Are

question 30

Multiple Choice

Key skills for a successful manager are

• A)the ability to be a team player and work with others
• B)to do every job better than their employees
• C)to be a computer expert
• D)to know the owner's needs and wants
• E)to always rise from the ranks

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Definitions:

Expected Utility

A concept in economics and decision theory that represents the average of all possible outcomes under uncertainty, weighted by their respective probabilities and the utility or satisfaction each outcome provides.

Marginal Utility

The additional satisfaction or benefit a consumer gains from consuming one more unit of a good or service.

Disability Insurance

Insurance coverage that provides income support to individuals who are unable to work due to disability.

Expected Utility

A theory in economics that quantifies how choices are made under uncertainty based on the perceived utility or satisfaction from different outcomes.