If the Time Available to Come to a Decision on a Problem

question 61

Multiple Choice

If the time available to come to a decision on a problem is very limited,it is most likely that ________.

• A)the manager will leave the subordinates to make the decision
• B)the skills of the subordinates will be effectively used
• C)the level of confidence the manager has in followers will be high
• D)the skills of the manager as a decision maker will play a secondary role
• E)the manager will take a boss-centered approach to leadership

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Definitions:

Public Good

An item or service made available at no cost to everyone in society, delivered by public institutions, private organizations, or individuals without aiming for financial gain.

Marginal Cost

The cost of producing one additional unit of a good or service, a concept crucial for understanding economic decision-making and pricing strategies.

Positive Externalities

Benefits that result from a commercial activity experienced by others who are not directly involved in the transaction or activity.

Spillover Benefits

The positive effects experienced by third parties or the wider community from an economic transaction or activity, which are not reflected in the market price.