Recall Application 3, "The Supply and Demand for Cruise Ship

question 104

Multiple Choice

Recall Application 3, "The Supply and Demand for Cruise Ship Berths," to answer the following questions:
-Based on what we learned from the application, one way to increase the price of cruise ship berths is to:

• A) retire some of the cruise ships from service.
• B) get the economy out of a recession.
• C) invest more on additional new cruise ships.
• D) A and B are correct.

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Definitions:

Human Resources Management

The strategic approach to the effective management of people in an organization in a way that helps the business gain a competitive advantage.

Taylor's Scientific Theory

A management theory developed by Frederick Winslow Taylor, which emphasizes efficiency and productivity through scientific analysis of work processes.

Charismatic Authority

The ability of a particular individual to exercise authority over others by virtue of his or her special abilities. Charismatic figures often emerge at times of instability and social unrest.

Rational-Legal

A concept in sociology that describes a form of authority based on legal codes and rules, as opposed to traditional or charismatic forms of governance.