The Principle of Diminishing Marginal Utility Can Potentially Be Used

question 18

True/False

The principle of diminishing marginal utility can potentially be used to support policies that redistribute income.This principle suggests that increases in income for an individual will generate less additional happiness the higher the level of income.

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Definitions:

Transformational Leader

A type of leader who inspires and motivates followers to exceed their own self-interest for the good of the organization or team, promoting significant change.

Transactional Leader

is a leader who focuses on the exchange between leader and follower, where followers are rewarded for meeting predefined objectives or punished for failing to meet them.

Authentic Leadership

A leadership approach that focuses on being genuine, transparent, and ethical, encouraging open communication and trust-building with followers.

George's Model

A framework for understanding ethical leadership, developed by Bill George, focusing on authenticity, integrity, and values-based decision making.