Imagine That You Have Just Been Elected Chair of a Campus

question 132

Essay

Imagine that you have just been elected chair of a campus committee that is trying to raise $100,000 in scholarship funding for disabled youth. Your committee is composed of 15 college instructors, students, and staff with an additional 25 community volunteers who have agreed to provide ideas and labor in the fundraising effort. Explain how you, in your role as chair, would use the principles of goal-setting theory to achieve your committee's goal.

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Definitions:

Potential Level

An economic term referring to the highest level of output an economy can achieve when utilizing all its resources efficiently without triggering inflation.

Stock of Capital

The total value of all durable goods and assets held by an individual, company, or economy that can be used in the production of goods and services.

Expected Price Level

The anticipated average level of prices in the economy, usually considered in terms of inflation or deflation expectations.

Capital Stock

The total amount of physical, human, and intangible assets that a firm uses to generate income, often referred to in the context of fixed capital like machinery and buildings.