_____ Refers to Leadership Influence Based Not on Position or Formal

question 12

Short Answer

_____ refers to leadership influence based not on position or formal authority but, rather, on the qualities and personality of the leader.

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Definitions:

Absolute Advantage

The ability of an individual, company, or country to produce a good or service at a lower cost per unit than competitors.

Opportunity Cost

The consequence in terms of lost benefits from not selecting the immediate next preferable option when making a choice.

Productivity

The measure of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs.

Terms of Trade

The ratio at which a country's exports are exchanged for imports, influencing the level of a country's economic health and prosperity.