Which of the Following Is True Concerning Technical and Managerial

question 61

Multiple Choice

Which of the following is true concerning technical and managerial skills?

• A) Human skills and technical skills remain equally important as managers move to higher levels.
• B) Technical-skill needs remain necessary and human skills decrease as managers move to higher levels.
• C) Human skills remain necessary and technical-skill needs decrease as managers move to higher levels.
• D) Both human-skill and technical-skill needs decrease as managers move to higher levels.
• E) Practical and functional skills decrease as managers are given more responsibility.

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Definitions:

Market Power

The ability of a firm or group of firms to manipulate prices or output in a market.

Excess Capacity

The situation where a firm or an economy is producing less than its potential output, often indicating inefficiencies or a lack of demand.

Monopolistic Competition

A market structure characterized by many firms offering products that are similar but not perfect substitutes, allowing for some degree of market power.

Pure Competition

A market structure characterized by a large number of sellers and buyers, homogeneous products, and the ease of entering and exiting the market.