A Manager Should Use a Relatively Democratic Leadership Style Only

question 83

Multiple Choice

A manager should use a relatively democratic leadership style only when

• A) enough time is available.
• B) tasks are structured.
• C) decisions need to be made quickly.
• D) a work group has little experience in making its own decisions.

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Definitions:

Value of Resources

The worth placed on natural, human, and capital assets based on their utility in producing goods and services.

Long Run

A period of time in economic analysis where all factors of production and costs are variable, allowing for full adjustment to change.

Average Cost Curve

A graphical representation that shows the cost per unit of output at different levels of production.

Marginal Cost

The extra expense associated with manufacturing an additional unit of a good or service.