Before a Client Visit, a Manager Holds a Meeting with His

question 155

Multiple Choice

Before a client visit, a manager holds a meeting with his subordinates to get their inputs and consensus on what they should talk about with the clients and how the team can get more business from them. This is an example of a(n) __________ decision method.

• A) intuitive
• B) authority
• C) consultative
• D) team
• E) minority

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Definitions:

Decrease in Supply

A reduction in the availability of a particular good or service in the market.

Downward-Sloping Demand

A fundamental economic principle stating that, ceteris paribus, the quantity demanded of a good falls as the price of the good rises, illustrated by a downward-sloping demand curve.

Equilibrium Quantity

The quantity of goods or services supplied that is equal to the quantity demanded at the market equilibrium price.

Equilibrium Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded, also known as the market-clearing price.