The Traits View of Leadership Suggests That

question 27

Multiple Choice

The traits view of leadership suggests that

• A) laissez-faire leadership is ineffective.
• B) democratic leadership is always best.
• C) leaders are made, not born.
• D) leaders are born, not made.

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Definitions:

Income Effect

How an adjustment in income levels for individuals or the economy affects the demand for goods or services.

Engel Curve

A graphic representation showing how a consumer's demand for a good varies with income, keeping other factors constant.

Strictly Convex Preferences

Preferences where consumers always prefer mixtures of goods to extremes, demonstrating a consistent desire for variety.

Demand Curve

A graphical representation in economics that shows the relationship between the price of a good and the quantity of that good consumers are willing and able to purchase at varying price levels.