Declan Is a Line Manager Who Wants to Cut Costs

question 50

Multiple Choice

Declan is a line manager who wants to cut costs and make his department more efficient.He is not sure what he is allowed to do to achieve his goals.Declan should ask the human resources department for help understanding the ________ responsibilities of line management.

• A)appraisal and promotion
• B)labor cost controls
• C)leadership and motivation
• D)training and development

---

Definitions:

Competitive Equilibrium

A market state where supply meets demand, leading to an optimized distribution of goods and services among competing actors.

Excess Demand

A situation in which the quantity demanded of a good exceeds the quantity supplied at a given price, often leading to upward pressure on prices.

Competitive Pure Exchange Economy

An economic model where agents trade existing goods without the production of new goods, guided purely by their own self-interest to find an equilibrium.

Contract Curve

In economics, a curve that shows the efficient allocations of goods or services that benefit two parties in an exchange, assuming no externalities.