Empowerment Refers To

question 49

Multiple Choice

Empowerment refers to:

• A) the value of outcomes to the individual.
• B) satisfaction with work conditions.
• C) the delegation of authority to subordinates in the organization.
• D) incorporation of high-level motivators.

Understand the profit-maximizing conditions for employing resources in competitive markets.

Recognize the importance of the marginal productivity of resources in determining resource allocation and production costs.

Understand the relationship between economic profit and cost-minimization/profit-maximization in resource allocation.

Understand the principle of profit maximization and how it is affected by input costs and output levels.

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Definitions:

Bureaucracies

Complex structures of offices, tasks, rules, and principles of organization that are employed by large institutions to coordinate the work of their members.

Autonomy

The capacity to make an informed, uncoerced decision, or a state of self-governance or independence in thought and actions.

Control

The power to influence or direct people's behavior or the course of events, often exercised through rules, regulations, or manipulation.

Supersectors

Large, overarching industries or segments of an economy, grouping together a broad spectrum of related sectors based on common characteristics.