Environmental Factors Should Be Viewed As

question 22

Multiple Choice

Environmental factors should be viewed as:

• A)direct determinants of performance.
• B)modifying effects of effort,ability,and direction.
• C)the sole responsibility of employees,not their managers.
• D)mere excuses to shortcomings in performance.

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Definitions:

Rent-Seeking

Actions by individuals and groups designed to restructure public policy in a manner that will either directly or indirectly redistribute more income to themselves or the projects they promote.

Monopoly Power

The ability of a single seller or company to control the market price and supply of a product or service.

High-priced Rental

Property rental arrangements that are significantly more expensive than the average market rate.

Rent-seeking

Endeavors aimed at earning income by manipulating the economic environment rather than through trade and production of added value.