Which One of the Following Statements Is True About System

question 8

Multiple Choice

Which one of the following statements is true about system 2 of Likert's management systems?

• A)This style is characterized by substantial,though not complete,confidence in subordinates.
• B)This style of management is characterized by a condescending master-to-servant-style confidence and trust in subordinates.
• C)This style of management is characterized by complete trust and confidence in subordinates.
• D)Subordinates are motivated by fear,threats,punishments,and occasional rewards.
• E)Subordinates feel fairly free to discuss their jobs with superiors and are motivated by rewards,occasional punishments,and some involvement.

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Definitions:

Equilibrium Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded; the market price where no surplus or shortage exists.

Marginal Revenue

The additional income earned from selling one more unit of a good or service; it's a crucial concept for understanding how firms decide on output levels.

Purely Competitive Industry

An industry characterized by a large number of small firms producing identical products with no single firm able to influence the market price.

Purely Competitive Market

A market structure characterized by a large number of small firms, a homogeneous product, perfect information, and ease of entry and exit, leading to price-taking behavior.