To Use Fiedler's Contingency Theory, a Leader Should Know If

question 24

True/False

To use Fiedler's contingency theory, a leader should know if he has a relationship- or task-oriented style.

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Definitions:

Opportunity Cost

The consequence in terms of lost benefits from not selecting the immediate next preferable option when making a choice.

Productivity

The measure of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs.

Terms of Trade

The ratio at which a country's exports are exchanged for imports, influencing the level of a country's economic health and prosperity.

World Price

The price at which a good is traded on the world market; determined by the world demand and world supply for the good.