The Theory of Perfect Competition Generally Assumes That

question 43

Multiple Choice

The theory of perfect competition generally assumes that

• A)sellers act independently of other sellers, but buyers do not act independently of other buyers.
• B)buyers act independently of other buyers, but sellers do not act independently of other sellers.
• C)buyers and sellers act independently of other buyers and sellers.
• D)neither buyers nor sellers act independently of other buyers and sellers.

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Definitions:

Motivating Potential

The inherent or designed capacity of a task, role, or environment to stimulate and sustain individuals' interest and effort.

Core Job Characteristics

Key elements of a job that affect an individual's motivation and job satisfaction, including skill variety, task identity, task significance, autonomy, and feedback.

Job Enrichment

The process of making a job more motivating and rewarding by adding tasks that increase the responsibility and opportunities for growth.

OB Scholars

Researchers and academics who specialize in Organizational Behavior, studying how individuals and groups interact within organizations.