List and Describe the 4 Types of Followers Identified in the Potter

question 15

Essay

List and describe the 4 types of followers identified in the Potter and Rosenbach Followership Model.

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Definitions:

Opportunity Cost

The potential benefit that is missed out on when choosing one alternative over another.

Production Possibilities

Production possibilities refer to the different combinations of goods and services that an economy can produce given its available resources and technology, illustrated by the production possibilities frontier (PPF).

Consumer Goods

Products and services that are consumed by individuals or households to satisfy their immediate needs and wants.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing an action.