________ Involves Behaving in Ways That Challenge Followers to Be

question 17

Multiple Choice

________ involves behaving in ways that challenge followers to be innovative and creative by questioning assumptions and reframing old situations in new ways.

• A) Laissez-faire leadership
• B) Inspirational motivation
• C) Transactional leadership
• D) Intellectual stimulation
• E) Individualized consideration

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Definitions:

Externalities

Costs or benefits that affect a party who did not choose to incur that cost or benefit.

Consumer Surplus

The difference in the total amount expected to be paid by consumers for a good or service and the actual payment made.

Willingness to Pay

Willingness to Pay is the maximum amount an individual or organization is ready to spend to procure a product or service, reflecting the value they attach to it.

Market Failure

A scenario in which the distribution of goods and services through a free market fails to be efficient, typically resulting in a decrease in overall social welfare.