A Key to Effective Leadership Is the Ability to

question 174

Multiple Choice

A key to effective leadership is the ability to

• A) maintain order, stability, and control.
• B) communicate a vision and rally others around that vision.
• C) master the technical details of the jobs performed by subordinates.
• D) maintain an autocratic approach to dealing with others.

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Definitions:

Input Price Ratio

The ratio of the prices of the inputs used in the production of goods or services.

Absolute Advantage

A condition in which a country, individual, or company can produce a good or service at a lower cost per unit than competitors can.

Comparative Advantage

The ability of a country, individual, or company to produce a good or service at a lower opportunity cost compared to others.

Trade

The act of buying, selling, or exchanging goods and services between people or countries.