Which of the Following Statements Is Not True of Psychological

question 53

Multiple Choice

Which of the following statements is not true of psychological contracts?

• A) Small business owners often implicitly or explicitly communicate conflicting terms when making psychological contracts.
• B) To avoid breaking a psychological contract,denote strict limits on what you promise employees.
• C) Putting a psychological contract in writing is unnecessary and ill-advised.
• D) A psychological contract refers to an employees' beliefs about the promises between the employee and the company.

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Definitions:

Competitive Price-searcher

This refers to a market situation where companies set their prices based on competition and market conditions, aiming to attract customers by offering better deals than their rivals.

Long-run Equilibrium

A state in which supply and demand balance over the long term, and all factors of production and economic variables have fully adjusted.

Demand Curve

A chart depicting how the cost of an item correlates with the amount of that item buyers are prepared to purchase.

Barriers to Entry

Economic, procedural, regulatory, or technological factors that obstruct or restrict the ability of new competitors to enter a market.