An Improvement in Technology Would

question 136

Multiple Choice

An improvement in technology would

• A)enable the economy to produce outside its original production possibilities frontier
• B)enable the economy to move along its original production possibilities frontier
• C)eliminate scarcity; therefore, the production possibilities frontier would no longer exist
• D)have no effect on the production possibilities frontier
• E)change the production possibilities frontier to a line with a positive slope

Understand the distinctions among painters and the evolution of painting styles over periods.

Understand the concept and characteristics of various entrepreneurship forms such as classic, necessity-based, and social entrepreneurship.

Comprehend the nature and challenges of starting and operating a start-up.

Analyze the traits and behaviors that contribute to entrepreneurial success.

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Definitions:

LMX

Leader-Member Exchange theory, a concept that focuses on the two-way (dyadic) relationship between leaders and members which can affect the performance and satisfaction of both.

Cultures

The collective patterns of values, beliefs, behaviors, and artifacts that characterize a group of people or an organization.

LMX Theory

Leadership Member Exchange Theory, which suggests that leaders develop unique one-to-one relationships with each of the people reporting to them, affecting outcomes like job satisfaction and performance.

Exchange Relationship

Interaction between two parties involving the provision of goods, services, or sentiments in return for something of value.