₈₈

question 41

Multiple Choice

_{88. According to the path-goal theory of leadership, means setting challenging goals, having high expectations of}
Employees, and displaying confidence that employees will assume responsibility and put forth extraordinary effort.

• A) directive leadership
• B) supportive leadership
• C) participative leadership
• D) achievement-oriented leadership
• E) empowerment leadership

Understand the factors driving Chinese firms' expansion into the United States.

Identify and explain the concept of open markets and their implications.

Recognize the specific elements that comprise the external environment of businesses.

Analyze the impacts of trade agreements (like NAFTA) and operations (like maquiladoras) on member countries and border regions.

---

Definitions:

Surplus

Occurs when the quantity of a good or service supplied exceeds the quantity demanded at a specific price, often leading to lower prices.

Price Ceiling

A legal maximum price that can be charged for a good or service, typically set by government to prevent prices from becoming too high.

Price Floor

A government or regulatory-imposed minimum price set above the equilibrium market price, aimed at ensuring that the market price of a good or service cannot fall below a certain level.

Shortage

A market condition where the demand for a product exceeds the supply at a given price, often leading to higher prices.