Michael Was Working with Two of His Colleagues to Create

question 23

Multiple Choice

Michael was working with two of his colleagues to create a new marketing plan for his company's new product.The team was scheduled to meet with their manager on Monday to present the plan, but the plan wasn't final when the team met with the manager.Instead of accepting any responsibility, Michael told the manager that the plan was not final because the profile of the geographical area was inaccurate.Michael's view of the situation is an example of

• A)external locus of control.
• B)internal locus of control.
• C)high self-esteem.
• D)tolerance of failure.
• E)need for affiliation.

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Definitions:

Equilibrium Quantity

The quantity of goods or services supplied equals the quantity demanded at the market equilibrium price.

Supply Curve

A graphical representation showing the relationship between the price of a good or service and the amount of it that producers are willing and able to supply at various prices.

Increase In Supply

A situation where the quantity of a good that producers are willing and able to sell at a particular price rises.

Quantity Supplied

In economics, refers to the total amount of goods or services that producers are willing and able to sell at a given price within a specific time period.