If a Person Would Buy Equipment with Safety Features That

question 101

Multiple Choice

If a person would buy equipment with safety features that cost $100 extra and those features reduce the chance of having a fatal accident by 1/500, the person is implicitly valuing his or her life at a minimum of:

• A) $5.
• B) $5,000.
• C) $50,000.
• D) $500,000.

Understand how path-goal theory integrates motivation principles from expectancy theory.

Analyze the strength and criticisms of path-goal theory and understand its empirical support.

Apply path-goal theory to practical leadership situations and assess its practical implications.

Distinguish between the different task characteristics (complex, ambiguous, challenging, mundane) and their implications for leadership styles.

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Definitions:

Legal Detriment

A loss or disadvantage that occurs as a result of a contract or agreement, serving as consideration for a promise in contract law.

Firm Offer

In contract law, a proposal made by a seller to supply goods or services at a fixed price, which cannot be withdrawn for a certain period.

Consideration

Something of value exchanged between parties in a contract that induces them to enter into the agreement.

Bargained-For Exchange

An exchange of promises or performance by parties to a contract that provides the consideration necessary to make the contract legally enforceable.