Equity Theory States That When People Find Themselves in Situations

question 84

True/False

Equity theory states that when people find themselves in situations of inequity or unfairness, they are motivated
to act in ways to change their circumstances.

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Definitions:

Transmit

To transmit means to send or convey information, energy, or matter from one place or thing to another.

Market Power

The ability of a firm or group of firms to control prices or exclude competition within a market.

Influence Market Prices

The action or power of a factor to affect the prices in a market, which could be through supply, demand, or external factors.

Externality

A consequence of an economic activity experienced by unrelated third parties; can be either positive or negative.