A Manager Who Believes the Source of Good Ideas Is

question 32

Multiple Choice

A manager who believes the source of good ideas is outside him/herself and therefore is willing to take the ideas of others as his/her own has a(n) ________ decision making orientation.

• A)receptive
• B)exploitative
• C)hoarding
• D)marketing-oriented
• E)self-interest

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Definitions:

Utility Function

A mathematical representation used in economics to model the preference or satisfaction a consumer derives from consuming goods and services.

Substitution Effect

The change in consumption patterns due to a change in relative prices, leading consumers to substitute one good for another.

Income Effect

The change in an individual's or market's consumption resulting from a change in real income.

Inferior Good

A type of good for which demand decreases as the income of consumers increases.