What Term Refers to the Perceived Fairness of the Outcome

question 56

Multiple Choice

What term refers to the perceived fairness of the outcome received?

• A) managerial fairness
• B) organizational fairness
• C) interactional fairness
• D) procedural fairness
• E) distributive fairness

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Definitions:

Indifference Curve

A graphical representation showing different combinations of two goods that give a consumer equal satisfaction and utility.

Marginal Utility

The additional satisfaction or usefulness gained from consuming one more unit of a good or service.

Positive Slopes

Characteristics of a line or curve on a graph indicating that values of the variable on the y-axis increase as the values of the variable on the x-axis increase.

Equilibrium

The state in which market supply and demand balance each other, resulting in stable prices.