Which of the Following Situations Would Trouble Adam Smith the Most

question 68

Multiple Choice

Which of the following situations would trouble Adam Smith the most?

• A) When there is threat to major oil supplies, gas doubles in price, making it unaffordable to the average consumer.
• B) Competing oil companies set up gas stations across the road from each other, making consumers choose between the two.
• C) Gas prices jump three or four times a day, depending on the price of oil in international markets.
• D) Legislation allows stations to change the price of gas only per week to protect consumers.

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Definitions:

Situational Constraints

External factors or conditions that limit or influence an individual’s performance and behavior, irrespective of their ability or motivation.

Employees' Performance

An assessment of how effectively and efficiently an employee completes their job duties and achieves set objectives.

Empower Employees

The practice of giving employees the authority, tools, and information they need to make decisions and contribute to the company's success.

Work Design

The process of defining roles, tasks, and systems to optimize employee performance and well-being.