When Individuals Know and Understand Themselves,espouse an Act Consistently with Higher

question 109

Multiple Choice

When individuals know and understand themselves,espouse an act consistently with higher order ethical values and empower and inspire others with openness,they have said to have achieved:

• A) Pragmatic leadership
• B) Servant leadership
• C) Interactive leadership
• D) Authentic leadership
• E) None of these

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Definitions:

Marginal Utility

This concept describes the additional satisfaction or utility a consumer receives from consuming one more unit of a good or service.

Total Utility

The complete satisfaction or benefit a consumer receives from consuming a certain amount of goods or services.

Diminishing Marginal Utility

A common economic concept stating that as a person consumes more of a product, the satisfaction (utility) gained from each additional unit decreases.

Total Utility

It is the total satisfaction or benefit that a consumer derives from consuming a certain quantity of goods or services.