Ian Is a Manager of a Local Company

question 473

Multiple Choice

Ian is a manager of a local company. He holds departmental meetings daily in order to get input from the employees about ways to improve quality and safety. Ian often works alongside his employees and eats with them at lunch. All employees work as a team to produce the best product possible. Ian's management style would be classified as __________ leadership.

• A)Type A
• B)Type B
• C)Theory X
• D)Theory Y

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Definitions:

Equilibrium Price

The cost point where the amount of a product or service that buyers want to purchase is the same as the amount sellers are willing to offer, creating a balanced market situation.

Price Ceiling

A restriction enforced by authorities on the top price allowable for goods, services, or resources.

Quantity Demanded

The amount of a good or service that consumers are willing and able to purchase at a specific price.

Physicals

Refers to physical commodities or assets, as opposed to financial instruments or derivatives, that are traded or examined.