Two of the Pioneers of the Concept of Group Decision

question 9

Multiple Choice

Two of the pioneers of the concept of group decision making that has become a central concept in OB are

• A) Kurt Lewin and Margaret Mead.
• B) Woodrow Wilson and Margaret Mead
• C) Frederick Taylor and Henry Ford.
• D) Woodrow Wilson and Kurt Lewin.
• E) Henri Fayol and Frederick Taylor.

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Definitions:

Endowment

An investment fund established by a foundation that makes consistent withdrawals from invested capital, often used by universities, nonprofits, and churches.

World Market

An international marketplace where goods, services, currencies, and other commodities are exchanged across borders.

Budget Line

A graphical depiction of all possible combinations of two goods that can be purchased with a given income and prices, reflecting the trade-offs and choices available.

Utility Function

A mathematical representation that describes how a consumer ranks different bundles of goods according to the level of satisfaction obtained from them.