An Effective Team Needs People Not Only with the Technical

question 7

Multiple Choice

An effective team needs people not only with the technical skills necessary to perform the work,but also problem-solving skills,interpersonal skills,and:

• A)decision-making skills.
• B)psychological flow.
• C)ability to control a group of people.
• D)a reduced send of self-efficacy.

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Definitions:

Wage Rate

The standard amount of compensation individuals receive in exchange for their labor or services, typically expressed per hour, day, or piece rate.

Labor Demand

The total amount of workers that employers want and are willing to hire at a given wage rate in a certain period.

Labor Supply

Refers to the total hours that workers are willing and able to work at a given wage rate in an economy.

Profit-maximizing

The process or strategy of adjusting production and sale conditions to achieve the highest possible profit margin.