When a Single Person (Or Small Group)has the Ability to Influence

question 96

Multiple Choice

When a single person (or small group) has the ability to influence market prices,there is

• A)competition.
• B)market power.
• C)an externality.
• D)a lack of property rights.

Understand strategies for managing organizational diversity effectively.

Recognize the concept and impact of stereotyping.

Define and understand ethnocentrism.

Define diversity and its importance in the organizational context.

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Definitions:

People Skills

The ability to communicate, interact, and work well with others effectively.

Training

Training refers to the process of teaching or developing in oneself or others, any skills and knowledge that relate to specific useful competencies.

External Locus

A psychological concept referring to individuals who believe that external forces and situations influence their life outcomes.

Internal Locus

A belief that one has control over their own life and outcomes rather than external forces.