The Revolution in Management That Is Currently Under Way Suggests

question 205

Multiple Choice

The revolution in management that is currently under way suggests that the most effective managers of the future will

• A) be very strict in their treatment of workers.
• B) emphasize individual initiative rather than teamwork.
• C) specialize in performing one of the four management functions.
• D) emphasize teamwork.

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Definitions:

Marginal Rate

The rate at which one variable changes with respect to a minute increase in another variable, often used in the context of marginal tax rates or marginal rates of substitution in economics.

Market Basket A

A selected set of goods and services used to monitor changes in price levels over time, often for the purpose of calculating inflation.

Utility Maximizing

The act of choosing the combination of goods and services that maximizes a consumer's satisfaction or happiness with a given income.

Marginal Utility

The additional satisfaction or utility received by consuming one more unit of a good or service.