When There Are Significant Costs Involved with Coordinating a Private

question 53

Multiple Choice

When there are significant costs involved with coordinating a private solution to an externality:

• A) a leader will likely be elected to organize the coordination.
• B) it can act as a motivating factor to solve the externality problem expediently.
• C) it likely will not happen.
• D) None of these statements is true.

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Definitions:

Upward Communication

The process by which information or feedback is communicated from lower levels of an organization to its higher levels, often involving feedback or reports from employees to management.

Downward Communication

The flow of information from higher levels of management to subordinate levels within an organization.

360-degree Feedback

A feedback process where employees receive confidential, anonymous feedback from the people who work around them, including peers, managers, and direct reports.

Performance Appraisal

Performance appraisal is a systematic evaluation process by which an employee's job performance is assessed, typically involving an analysis of various aspects of work behavior and outcomes, aimed at informing decisions related to promotions, pay, and development.