Wage Differentials That Arise Because of Innate Differences in Ability

question 215

True/False

Wage differentials that arise because of innate differences in ability or talent are consistent with the marginal productivity theory of income distribution.

Understand different leadership theories and their applications.

Recognize the impact of gender on leadership effectiveness and style.

Identify the characteristics and behaviors of transformational and charismatic leaders.

Understand leadership prototypes and their influence on leadership perception.

---

Definitions:

Product-Based Definition

An approach that defines a product by its features, components, and attributes rather than its function or the customer need it satisfies.

Manufacturing-Based Definition

relates to quality concepts focusing on adherence to specifications and efficiency in production processes.

Customer Dissatisfaction

Refers to the state when customers' expectations are not met by the products or services provided, leading to a possible decline in loyalty and business.

Warranty

A guarantee provided by a manufacturer or vendor regarding the condition of its product and a promise to repair or replace it within a specified time frame if it's found to be defective.