The Concept That the Effectiveness of a Leader Depends on the Situation

question 88

Multiple Choice

The concept that the effectiveness of a leader depends on the situation that the leader faces is proposed by the ________ model leadership theory.

• A) trait
• B) contingency
• C) empowerment
• D) path-goal

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Definitions:

Profit Rewards

The financial gains that accrue to entrepreneurs or investors as a result of taking a risk in the marketplace.

Pure Competition

A market structure characterized by a large number of small firms, a homogeneous product, and no single firm having market control.

Market Structure

The organizational and other characteristics of a market, influencing the level of competition and pricing within the market.

Oligopoly

A market structure in which a few firms sell either a standardized or differentiated product, into which entry is difficult, in which the firm has limited control over product price because of mutual interdependence (except when there is collusion among firms), and in which there is typically nonprice competition.