Which of the Following Approaches to Management Assumes That People

question 16

Multiple Choice

Which of the following approaches to management assumes that people are relatively self-directed and that they will exercise imagination and ingenuity when given the opportunity?

• A) Classical management
• B) Scientific management
• C) Human resources
• D) Theory Y management

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Definitions:

Equilibrium Wage

The wage rate at which the supply of workers is equal to the demand for workers in the labor market.

Surplus

The amount of an asset or resource that exceeds the portion that is utilized.

Human Capital

The collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or the community.

Compensating Differentials

The variation in wage rates paid to different workers, mainly due to the non-monetary advantages or disadvantages of specific jobs.