Expectancy Theory Is a Model of Motivation That Explains How

question 85

True/False

Expectancy theory is a model of motivation that explains how people strive for fairness.

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Definitions:

Means of Production

The resources—including land, labor, capital, and technology—used to produce goods and services in an economy.

Capital

Wealth in the form of money or assets, used in the production of more wealth.

Depression

An extended period of significant decline in economic activity across an economy, characterized by high unemployment, low consumer spending, and reduced industrial output.

Full Employment

A situation in an economy where all available labor resources are being used in the most economically efficient way, often characterized by the absence of cyclical unemployment.