Power Is Described as

question 2

Multiple Choice

Power is described as

• A) A relational concern for both leaders and followers
• B) Use of force over others to manipulate them
• C) Letting any follower do whatever he or she wants
• D) Forcing people to engage in extreme behaviors

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Definitions:

Perfect Substitutes

Goods that can be used in place of each other with no loss of utility by the consumer.

Perfect Complements

Goods that are always used together in fixed proportions, where an increase in demand for one leads to a corresponding increase in demand for the other.

Initial Endowment

The initial allocation of resources, goods, or wealth that individuals or firms possess before engaging in exchanges or production.

Pareto Efficient Allocations

refers to an economic situation where no individual can be made better off without making someone else worse off.