Escalation of Commitment Can Be Minimized by Ensuring That

question 164

Multiple Choice

Escalation of commitment can be minimized by ensuring that:

• A)there are ready-made alternatives to resolve the problem.
• B)those who choose the decision are different from those who implement and evaluate it.
• C)the team leader has strong opinions about the preferred options.
• D)organizational goals are relatively ambiguous.
• E)the person who makes the decision is also responsible for terminating the project.

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Definitions:

Equilibrium Quantity

The level of output at which the demand for a product matches its supply, marking a state of balance in the market.

Equilibrium Price

The price point in a market at which the supply of goods matches demand, leading to a stable market condition.

Labor Market

The marketplace where workers seek employment and employers seek workers, defined by supply and demand for labor.

Marginal Productivity

The additional output that is produced by using one more unit of a factor of production, keeping all other factors constant.