The Demand for a Resource Depends Primarily on

question 11

Multiple Choice

The demand for a resource depends primarily on

• A)the supply of that resource.
• B)the demand for the product or service that it helps produce.
• C)the price of that input.
• D)the elasticity of supply of substitute inputs.

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Definitions:

Reward Power

The ability of an individual, such as a manager or leader, to influence others' behavior by controlling desired resources, benefits, or rewards.

Influence Tactic

Methods or techniques used by individuals or groups to affect or change others' behaviors, perceptions, or attitudes.

Agent's Reward

Compensation, recognition, or benefits given to an agent, representative, or employee for their work or achievements.

Referent Power

A form of influence that stems from an individual's ability to be admired and respected, leading others to identify with them.