Nelson Has Been a Successful Manager for Over 30 Years

question 34

Multiple Choice

Nelson has been a successful manager for over 30 years.He has considerable expertise and makes most of the decisions by himself.He supervises over 200 people who are spread-out across 20 states.Using employee participation may be a challenge for Nelson because of:

• A)time and complexity of the task.
• B)the leader's style and the geographic dispersion.
• C)follower commitment and readiness.
• D)environmental factors and culture.

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Definitions:

Marginal Productivity Theory

An economic theory suggesting that the wage or value of a worker's labor is equal to the additional output generated by employing one more unit of labor.

Income Distribution

Describes how a nation’s total GDP is spread among its population, affecting the economic health and inequality levels within society.

Compensating Wage Differences

Differences in the wages received by workers in different jobs to compensate for the nonmonetary differences between the jobs.

Monopoly Theory

The economic theory that examines the consequences and efficiency of a single seller (a monopoly) controlling the entire market for a particular good or service.