Which of the Following Is TRUE

question 349

Multiple Choice

Which of the following is TRUE?

• A) Technological efficiency occurs if the maximum feasible amount of output is achieved from a given quantity of inputs.
• B) Technological efficiency depends on the relative cost of the resources used in production.
• C) If production is technologically efficient, then it must be economically efficient.
• D) All of the above answers are correct.

Discuss the roles of intuition, heuristics, and rationality in the decision-making process.

Understand the conditions under which decision-making occurs: certainty, risk, and uncertainty, and their implications.

Recognize the impact of environmental factors on decision-making and problem-solving in organizations.

Describe strategies used in decision-making under risk and uncertainty.

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Definitions:

Delayed Outcome

A result or effect that does not manifest immediately after the initiating action, but appears after a certain period of time.

Effects

The results or outcomes that are caused by some action, condition, or event.

Charismatic Leadership

A leadership style characterized by an individual's ability to inspire, motivate, and invoke enthusiasm among followers through their personal charm and persuasive skills.

Transformational Leadership

A leadership style that inspires and motivates followers to exceed their own self-interests for the good of the organization or cause.