Which of the Following Is Considered by Economists to Be

question 125

Multiple Choice

Which of the following is considered by economists to be the most fundamentally scarce?

• A)money 
• B)ideas 
• C)needs 
• D)food 
• E)physical resources

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Definitions:

Locus of Control

Is the degree to which individuals believe they have control over the outcomes of events in their lives, as opposed to external forces having that control.

Task Structure

The way tasks are defined, organized, and sequenced within a job or project, including the clarity of goals and the necessary procedures for completion.

Environmental Contingencies

Factors in the environment that can affect the success or failure of an organization, requiring adaptation in strategies and processes.

Hersey And Blanchard’s

A situational leadership model which suggests that successful leadership arises from adopting different styles based on the maturity level of team members.