A Quota Is a

question 86

Multiple Choice

A quota is a

• A) legal limit on the quantity of a good that may be imported.
• B) legal limit on the price of a good that may be imported.
• C) tax imposed on an imported good.
• D) tax imposed on an exported good.
• E) menu cost.

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Definitions:

Concurrence

Agreement in opinion or outcome among individuals or groups.

Groupthink

is a psychological phenomenon that occurs within a group of people when the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Vroom's Normative Model

A psychological theory that describes the ways leaders can decide to engage their team in decision-making processes, based on the situation's complexity and the importance of team agreement.

Shared Information Bias

A tendency in group discussions to focus on information that all members already know, neglecting unique and potentially important information.