Using the Accompanying Figure, Briefly Describe Electronic Funds Transfer

question 91

Essay

Using the accompanying figure, briefly describe electronic funds transfer.

Interpret the concept of need satisfaction in relation to autonomy and motivation.

Appreciate the relevance of comparison and goal setting in influencing individual motivation.

Understand the hierarchical nature of needs in specific motivational theories.

Apply motivational theories to predict the effectiveness of different needs in managerial and sales positions.

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Definitions:

Collusive Agreement

An arrangement between two or more firms, usually covert, to limit competition and manipulate prices or market conditions to their advantage.

Restricting Output

involves limiting the production of a product or service to increase prices or maintain scarcity.

Limit-Pricing Strategy

A pricing strategy used by monopolies or dominant firms to set prices low enough to deter entry by potential competitors.

Oligopolists

Firms operating in an oligopoly, a market structure characterized by a few dominant players, which can influence prices and market practices.