Examlex
Choose a job you have held or that you know about.Analyze its characteristics, according to the job characteristics model.If you managed subordinates with this job, what could you do to increase its motivational potential?
Adverse Selection
A situation where asymmetric information leads to the selection of undesirable participants in a transaction or contract, often seen in insurance markets.
Consumer Surplus
The divergence between the total sum consumers are inclined and able to disburse for a merchandise or service, and the total sum they actually disburse.
Negative Externality
A cost that affects a party who did not choose to incur that cost, often associated with production or consumption activities.
Opportunity Cost
The cost of foregoing the next best alternative when making a decision, representing the benefits that could have been received if a different decision were made.
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