When Dealing with the Economics of the Business Firm, the Short

question 49

Multiple Choice

When dealing with the economics of the business firm, the short run is defined as a period long enough to:

• A)gather cost data but not production data.
• B)gather cost data and production data.
• C)vary output but not plant capacity.
• D)vary output and plant capacity.
• E)vary plant capacity but not output.

Apply motivational theories to understand the behavior of individuals in organizational contexts.

Understand the different motivational theories, including those by McClelland, Herzberg, Skinner, Vroom, and Maslow.

Identify and differentiate between hygiene factors and motivating factors in Herzberg's two-factor theory.

Recognize the implications of reinforcement theory and the role of consequences in behavior modification.

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Definitions:

Dependent Employees

Employees who rely on their employers for work direction and income, typically having less autonomy in their roles compared to independent contractors or freelancers.

Symbolic Leader

Uses symbols to establish and maintain a desired organisational culture.

Organisational Culture

The shared values, beliefs, practices, and norms that define the social and psychological environment of a business or organization.

Symbols

Objects, signs, or images used to represent ideas, concepts, or values, often carrying significant meaning within a particular culture or context.