The Contingency Approach to Management Is Based Upon Which of the Following

question 30

Multiple Choice

The contingency approach to management is based upon which of the following?

• A) exceptions to generally accepted management principles
• B) a set of universal management rules
• C) knowledge developed based on sophisticated logic models
• D) similarities found within all organizations

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Definitions:

Wage

The fixed regular payment, typically calculated on an hourly, daily, or piecework basis, made by an employer to an employee, especially to manual or unskilled workers.

Diminishing Returns

A principle stating that adding an additional factor of production results in smaller increases in output.

Marginal Product

The additional output resulting from the use of one more unit of a factor of production.

Labor

Human effort used in the production of goods and services.