Which of the Following Would Be the Best Description of the "Master

question 76

Multiple Choice

Which of the following would be the best description of the "master of destiny" philosophy that is fundamental to U.S. management thought?

• A) A skill that must be mastered is foretelling one's destiny.
• B) A manager must control all employees' destinies if profit is to be made.
• C) People can substantially influence the future--they are in control of their own future.
• D) The "state" is the master of its citizens' destiny.
• E) Society is the determining element or factor of one's destiny.

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Definitions:

Ordinal Utility Function

Utility function that generates a ranking of market baskets in order of most to least preferred.

Budget Line

A graphical representation of all possible combinations of two goods that can be purchased with a given budget and prices.

Slope

The rate at which a line or curve inclines or declines, indicating the steepness.

Preferences

The subjective tastes and desires that guide consumers in making their choice among various goods and services.