Examlex

Solved

Gerald, the General Manager at Meteorite Systems, Has to Give

question 30

Multiple Choice

Gerald, the general manager at Meteorite Systems, has to give a negative performance evaluation to Norman, one of the shift managers. During the review, Gerald first thanks Norman for all his efforts, then he delivers the bad news. Finally he ends the review with an expression of goodwill. In this situation, Gerald is applying the ______ approach for delivering the negative performance review.


Definitions:

Consumer Surplus

The division between the total financial commitment consumers are willing to make for a product or service and the amount they actually contribute.

Price Floor

A minimum legal price set by the government at which a good or service can be sold, aiming to prevent prices from falling too low.

Consumer Surplus

The contrast between the intended financial outlay of consumers on a good or service and the payment they ultimately make.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied.

Related Questions