Victoria Has a MasterCard with a Credit Limit of $9,000

question 3

Multiple Choice

Victoria has a MasterCard with a credit limit of $9,000.This is:

• A) open-end credit.
• B) closed-end credit.
• C) an installment loan.
• D) a secured debt.

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Definitions:

Fred Fiedler

A psychologist who developed the contingency theory of leadership, suggesting that the effectiveness of a leader is dependent on both their personal style of leadership and the situation they are in.

Contingency Theory

A management theory suggesting that there is no one best way to organize a corporation, to lead a company, or to make decisions; instead, the optimal course of action is contingent upon the internal and external situation.

Behavioural Styles

Patterns of behavior and interaction that characterize an individual's approach to communication, decision-making, and problem-solving.

Hersey-Blanchard

A situational leadership model that suggests the need to adjust leadership styles based on the maturity level of followers.