In the Context of the 10 Qualities That Mark a Leader

question 38

Multiple Choice

In the context of the 10 qualities that mark a leader and help influence the leadership process, identify the first requirement for a leader.

• A) An innate and learned competency
• B) A strong sense of purpose
• C) Concern for others
• D) Strength and stamina to fulfill the tasks of leadership

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Definitions:

Diminishing Marginal Returns

A principle in economics where increasing one factor of production, while keeping others constant, will yield lower additional output.

Price Ceiling

A legal maximum price that can be charged for a good or service, typically set by government to protect consumers.

Demand Curve

An image that graphically shows the relationship between an item's selling price and the quantities that consumers are interested in buying.

Consumer Surplus

The economic benefit consumers receive when they pay less for a product or service than what they were willing to pay.