Which of the Following Is an Accurate Statement Regarding Status

question 66

Multiple Choice

Which of the following is an accurate statement regarding status systems?

• A) Anything can have status value if others in the group evaluate it that way.
• B) Status is a weak employee motivator even though it has behavioral consequences.
• C) Status can only be formally conferred on individuals.
• D) Status systems are independent of aspects such as prestige and grading.
• E) Individuals status is determined before he/she is assigned to the group.

---

Definitions:

Price Floor

A legal minimum on the price at which a good can be sold.

Consumer Surplus

The variation in the comprehensive amount consumers are willing to layout for a good or service and the actual layout.

Total Surplus

The sum of consumer and producer surplus, representing the overall benefit to society from the production and consumption of goods and services.

Equilibrium Price

The market price at which the supply of an item equals the quantity demanded, leading to an economic state of balance.