Match the Options Below with the Correct Phrase

question 35

Multiple Choice

Match the options below with the correct phrase:
-downsizing

• A)the opposite of coercive power
• B)a basis for authority
• C)shrinking the work staff
• D)based upon fear
• E)similar to position power
• F)retention of authority
• G)another term for rightsizing
• H)subdividing tasks into separate jobs
• I)having superior skill and knowledge
• J)based upon personality or charisma

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Definitions:

Consumer Surplus

The gap between the intended investment consumers are willing to make in a product or service and their actual financial outlay.

Willingness to Pay

The maximum amount an individual is ready to sacrifice to acquire a good or benefit from a service.

Market Demand Curve

A graphical representation showing the relationship between the price of a good and the total amount of the good that all consumers are willing to purchase at each price level.

Willingness to Pay

The utmost price a consumer is ready to pay for a good or service, indicating its perceived value to them.