We Assume That in the Long Run in a Perfectly

question 146

Multiple Choice

We assume that in the long run in a perfectly competitive market:

• A) the firms can enter or exit.
• B) the number of firms is fixed.
• C) the price will be constant.
• D) collusion will set in without government regulation.

Recognize the significance of prosocial motivation and its impact on organizational culture.

Understand the relationship between employee behavior and motivational needs.

Analyze the role of management in motivating employees through empowerment, job design, and recognition programs.

Differentiate between hygiene factors and motivator factors according to the two-factor theory of motivation.

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Definitions:

Goal Setting

The process of identifying specific, measurable, achievable, relevant, and time-bound (SMART) objectives that guide actions and decision-making.

Empowerment

The act of giving power or authority to individuals or groups, often aimed at enabling them to take control over their lives or work.

Global Economy

The interconnected worldwide economic system, comprising the production, distribution, and consumption of goods and services across countries.

Raised Wages

An increase in the amount of money paid to workers for their labor, often seen as a means to improve living standards or reward performance.