Which One of the Following Statements Is TRUE

question 47

Multiple Choice

Which one of the following statements is TRUE?

• A) An agency relationship is when someone hires someone else to perform a service and gives them decision-making authority.
• B) An agency relationship is when an agent hires a principal to perform a service.
• C) An agency relationship is when a principal works for an agent.
• D) In an agency relationship, the agent delegates authority to the principal.
• E) An example of an agency relationship is when the CEO nominates a slate of candidates to be on the board of directors.

Recognize the role of communication processes and non-verbal behaviors in the context of conflict.

Differentiate between functional and dysfunctional conflicts and their impact on performance and relationships.

Learn various conflict management styles and their applications in organizational settings.

Understand how effective conflict resolution can contribute to organizational performance and individual well-being.

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Definitions:

Increasing Demand

A situation where the quantity of a good or service that consumers are willing and able to buy increases, often due to factors like rising incomes, changes in tastes, or lower prices of the product.

Allocative Efficiency

A state of resource allocation where it is impossible to make any one individual better off without making at least one individual worse off.

Productive Efficiency

A condition in which an economy or entity is utilizing all its resources efficiently, producing maximum output for a given set of inputs without waste.

Demand (D)

The quantity of a good or service that consumers are willing and able to purchase at various prices during a certain period of time.