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Greta is the manager of a company who has implemented a payments-for-suggestions plan whereby employees get paid for providing valid suggestions that can help the company.She found that not many employees came forward with suggestions.Upon further investigation,she found out that employees did not think that they would actually be paid for making the suggestions.So,she made the paymentsfor-suggestions plan part of their work contract which guaranteed that they would be paid.According to Vroom's expectancy-valence theory,Greta has increased _____ to motivate her employees.
Society's Total Utility
The cumulative measure of satisfaction or happiness that a society derives from consuming a particular amount of goods and services.
Diminishing Marginal Utility
A principle stating that as a consumer consumes more of a good or service, the satisfaction (utility) gained from each additional unit decreases.
Universal Basic Income
A financial program where a government provides all citizens with a regular, unconditional sum of money, regardless of employment status or wealth.
Household Receives
Refers to the income or goods that a household obtains, which may come from various sources such as wages, investments, or government programs.
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