The Idea of a Psychological Contract Between an Individual and an Organisation

question 96

Multiple Choice

The idea of a psychological contract between an individual and an organisation suggests that the individual makes __________ in exchange for __________.

• A) makes sacrifices; money
• B) offers inputs; outputs
• C) makes contributions; inducements
• D) provides performance; satisfaction
• E) makes commitments; power

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Definitions:

Total Costs

The sum of all expenses incurred in the production of goods or services, including fixed and variable costs.

Variable Costs

Costs that vary directly with the level of production or output, for example, materials and labor costs used in manufacturing.

Accounting Profit

The net income of a company calculated by deducting all operational and overhead costs from total revenue, according to generally accepted accounting principles.

Accounting Profit

Accounting profit is the net income for a company calculated by subtracting total expenses from total revenues, according to generally accepted accounting principles.